Sept tax code changes

[Brown and Boris]

This has got me very confused.

So Darling puts up the personal alllowances from about £5600 to £6000, but does it mid tax year?

I have a tax code of say 542 from April but now there is an extra allowance from September? Is that pro-rate for the remaining 7 months of the tax year? What do I input to the HMRC PAYE tax calculator as a tax code to get the right figursd out the other end?

Made worse because I had used a tax code of 600 from April (on the basis that changing things miod year is so stupid nobody wopuld do that) so have underpaid.

Tax doesn't have to be taxing?

[mcflurry]

...but he takes it back higher up the scale, so everyone earning more than £5.52 an hour pays the same tax anyway, whilst "appeasing" the Labour voters lower paid in society that he screwed earlier in the budget...

[Brown and Boris]

I have skipped paying myself this month in the hope of it sorting itself out next month. The new HMRC CD, as normal, depends upon you having a tax code and the only one I have is the old one 542.

[Tuscan Tart]

The tax code will change from 543L to 603L for September's run, as long as you are not on a month 1 basis it will automatically calcualte the tax for you.

[mr.man]

The code change simply means you can earn another £600 tax free. That means £120 in your pocket a year with tax at 20% Thats £2.31 a week. Without checking I think the changes are from week 22 so that means my weekly paid workers will pay £50.82 less tax for that payslip. For each week after that they will pay £2.31 less tax.

[mcflurry]

mr.man said:

The code change simply means you can earn another £600 tax free. That means £120 in your pocket a year with tax at 20% Thats £2.31 a week.

I disagree. It simply shuffles the tax burden higher up the scale, so everyone earning more that £30something pays exactly the same... but they aren't Labiar voters...

[BigAlinEmbra]

mcflurry said:

mr.man said:

The code change simply means you can earn another £600 tax free. That means £120 in your pocket a year with tax at 20% Thats £2.31 a week.

I disagree. It simply shuffles the tax burden higher up the scale, so everyone earning more that £30something pays exactly the same... but they aren't Labiar voters...

It's folk earning over £40k it'll hit.

[northandy]

BigAlinEmbra said:

mcflurry said:

mr.man said:

The code change simply means you can earn another £600 tax free. That means £120 in your pocket a year with tax at 20% Thats £2.31 a week.

I disagree. It simply shuffles the tax burden higher up the scale, so everyone earning more that £30something pays exactly the same... but they aren't Labiar voters...

It's folk earning over £40k it'll hit.

it wont hit them they just wont see any change... they were the winners from the original changes anyway.