Threshold Watch

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Tameside Emeral
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#1
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#1
Just got my Threshold payment through in this month's (May) salary back-dated to September
(9 months).

However it was included in my basic pay - not as a separate item - which apparently it was last
time, and that means it looks - on paper - that I have moved into the higher tax bracket (40% =
£29,900) and I think I've been whacked for tax.

Is this normal, what did other people's pay-slips say? Have I been swizzed again?

Willie.
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Slieber24
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#2
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In article <[email protected] ra.net>, "Tameside Emerald CSC"
<[email protected]> writes:

[q1]>Just got my Threshold payment through in this month's (May) salary back-dated to September[/q1]
[q1]>(9 months).[/q1]
[q1]>[/q1]
[q1]>However it was included in my basic pay - not as a separate item - which apparently it was last[/q1]
[q1]>time, and that means it looks - on paper - that I have moved into the higher tax bracket (40% =[/q1]
[q1]>£29,900) and I think I've been whacked for tax.[/q1]
[q1]>[/q1]
[q1]>Is this normal, what did other people's pay-slips say? Have I been swizzed again?[/q1]
[q1]>[/q1]

I should think it would be included in your basic pay now, I'm afraid. As you have managed to get
through, you would now be always on that higher tier, even if no more movement was forthcoming.

Even if it were included as a separate item last time, it would still make your total paycheck in
the higher bracket - whether it's money for extras, like housing differential (e.g. London or other
allowance) or money for services rendered, such as management points.

----------------------------------------------------
Sandi

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Jx
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#3
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"Tameside Emerald CSC" <[email protected]> wrote in message
news:[email protected]...
[q1]> Just got my Threshold payment through in this month's (May) salary back-dated to September (9[/q1]
[q1]> months).[/q1]
[q1]>[/q1]
[q1]> However it was included in my basic pay - not as a separate item - which apparently it was last[/q1]
[q1]> time, and that means it looks - on paper - that I have moved into the higher tax bracket (40% =[/q1]
[q1]> £29,900) and I think I've been whacked for tax.[/q1]
[q1]>[/q1]
[q1]> Is this normal, what did other people's pay-slips say? Have I been swizzed again?[/q1]
[q1]>[/q1]
[q1]> Willie.[/q1]
You're forgetting your basic tax allowance which for most people is about £4000-ish. The 40% figure
would therefore be on income of £32,000 ish (unless you had loads of taxable benefits )but it seems
to be done on a monthly basis( monthly salary*12; then tax accordingly) You should recoup it by the
end of the tax year!

Jx
0
Vjc
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#4
Report 17 years ago
#4
"Tameside Emerald CSC" <[email protected]> wrote this, suspiciously:

[q1]>Just got my Threshold payment through in this month's (May) salary back-dated to September[/q1]
[q1]>(9 months).[/q1]
[q1]>[/q1]
[q1]>However it was included in my basic pay - not as a separate item - which apparently it was last[/q1]
[q1]>time, and that means it looks - on paper - that I have moved into the higher tax bracket (40% =[/q1]
[q1]>£29,900) and I think I've been whacked for tax.[/q1]
[q1]>[/q1]
[q1]>Is this normal, what did other people's pay-slips say? Have I been swizzed again?[/q1]
[q1]>[/q1]
[q1]>Willie.[/q1]

My headteacher still refuses to tell me if I got the threshold payment or not. We had the assessor
in, and she looked at everyone who had been told there was a problem. I've moved schools at Easter,
and the new shcool can't do anything without go ahead from the old. Any advice?
--
Vanessa

There's a typo in this sentence, but it slides away when your eyes move toward it.
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Tameside Emeral
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#5
Report 17 years ago
#5
"SLieber24" <[email protected]> wrote in message
news:[email protected]...
[q1]| In article <[email protected] ra.net>, "Tameside Emerald CSC"[/q1]
[q1]| <[email protected]> writes:[/q1]
[q1]|[/q1]
[q1]| >Just got my Threshold payment through in this month's (May) salary back-dated to September (9[/q1]
[q1]| >months).[/q1]
[q1]| >[/q1]
[q1]| >However it was included in my basic pay - not as a separate item - which apparently it was last[/q1]
[q1]| >time, and that means it looks - on paper - that I have moved into the higher tax bracket (40% =[/q1]
[q1]| >£29,900) and I think I've been whacked for tax.[/q1]
[q1]| >[/q1]
[q1]| >Is this normal, what did other people's pay-slips say? Have I been swizzed again?[/q1]
[q1]| >[/q1]
[q1]|[/q1]
[q1]| I should think it would be included in your basic pay now, I'm afraid. As[/q1]
you
[q1]| have managed to get through, you would now be always on that higher tier,[/q1]
even
[q1]| if no more movement was forthcoming.[/q1]
[q1]|[/q1]
[q1]| Even if it were included as a separate item last time, it would still make[/q1]
your
[q1]| total paycheck in the higher bracket - whether it's money for extras, like housing differential[/q1]
[q1]| (e.g. London or other allowance) or money for[/q1]
services
[q1]| rendered, such as management points.[/q1]

But if it had been paid monthly, rather than a lump sum, it might not have taken me through the
barrier - but I also have 2 points so it probably would have and I'm just moaning for nothing...

Willie.
0
A.S
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#6
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#6
A lot of people seem to forget about the personal allowance and everything else. Just because you go
over £29,900 you do not automatically pay 40% on this.

Personal Allowance is about £4535 First 1880 is taxed at 10% Rest up to 29,900 is taxed at 22%
Anothing about this is taxed at 40%

So in theory you need to be earning £33,435 before you go into the 40% bracket.

"Jx" <[email protected](my)bigfoot.com> wrote in message news:[email protected]...
[q1]>[/q1]
[q1]> "Tameside Emerald CSC" <[email protected]> wrote in message[/q1]
[q1]> news:[email protected]...[/q1]
[q2]> > Just got my Threshold payment through in this month's (May) salary back-dated to September (9[/q2]
[q2]> > months).[/q2]
[q2]> >[/q2]
[q2]> > However it was included in my basic pay - not as a separate item - which apparently it was last[/q2]
[q2]> > time, and that means it looks - on paper - that[/q2]
I
[q2]> > have moved into the higher tax bracket (40% = £29,900) and I think I've been whacked for tax.[/q2]
[q2]> >[/q2]
[q2]> > Is this normal, what did other people's pay-slips say? Have I been swizzed again?[/q2]
[q2]> >[/q2]
[q2]> > Willie.[/q2]
[q1]> You're forgetting your basic tax allowance which for most people is about £4000-ish. The 40%[/q1]
[q1]> figure would therefore be on income of £32,000 ish (unless you had loads of taxable benefits )but[/q1]
[q1]> it seems to be done on a monthly basis( monthly salary*12; then tax accordingly) You should recoup[/q1]
[q1]> it by the end of the tax year![/q1]
[q1]>[/q1]
[q1]> Jx[/q1]
0
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