Personal tax allowance increase of £1000

[L8Hatter]

I think this is coming into effect next week? Had a quick look at a table and it seems you're £300 better off (in your pocket) on £10,000 a year and £230 on £20,000. But does anyone know if there's also a planned rise in N.I. contributions, which would probably negate this?

Also, I'm just coming up to 12 months in the job and am currently on £357 a week (pro-rata). Can anyone confirm it rises to £375 or thereabouts (i.e. the standard rate)?

[Hitcher]

NI will go down as well.

http://www.bbc.co.uk/news/business-12773565" onclick="window.open(this.href);return false;

[Judgee]

NI will go down as well.

http://www.bbc.co.uk/news/business-12773565" onclick="window.open(this.href);return false;

"The employee contribution of National Insurance is rising from 11% to 12% in April, as announced previously." Doesn't sound like it?

[POSTMAN]

Not sure what it is (can't believe i don't know the national pay rate!) but yes your money should go up after 12 months L8.

[fishtank]

NI will go down as well.

http://www.bbc.co.uk/news/business-12773565" onclick="window.open(this.href);return false;

No it wont.
National Insurance is going up from 11% to 12% on taxable earnings up to £42,484.
The point at which you start paying Income Tax will go up from £6,475 to £7,475 (for people under 65)
If you have kids and both work then you also need to be careful because the income limit at which Child Tax Credit will be paid is falling from £50,000 to £40,000.

And a warning for POSTMAN....

Private jet users to pay passenger duty for first time..

[POSTMAN]

Private jet users to pay passenger duty for first time..

FFS!Thought Dingo had sorted this!!

[L8Hatter]

NI will go down as well.

http://www.bbc.co.uk/news/business-12773565" onclick="window.open(this.href);return false;

"The employee contribution of National Insurance is rising from 11% to 12% in April, as announced previously." Doesn't sound like it?

Have just tried the calculator that Hitcher posted, and it does seem to show a reduction, but I thought it was rising

Here's a link to the article and table about the tax allowance

http://www.thisismoney.co.uk/tax/income ... page_id=77" onclick="window.open(this.href);return false;

[L8Hatter]

Not sure what it is (can't believe i don't know the national pay rate!) but yes your money should go up after 12 months L8.

Thanks postman. Should have mentioned I'm an OPG.. and have no idea what that stands for after nearly a year of doing it

[fishtank]

Not sure what it is (can't believe i don't know the national pay rate!) but yes your money should go up after 12 months L8.

£375.16 in deliveries.
£354.56 basic + £20.60 supplement.

[L8Hatter]

Assuming they renew my contract, that's good news. Thanks a lot Fishtank

[chelseachris]

Not sure what it is (can't believe i don't know the national pay rate!) but yes your money should go up after 12 months L8.

£375.16 in deliveries.
£354.56 basic + £20.60 supplement.

Looking at my supplement it reads £20.06

[fishtank]

Not sure what it is (can't believe i don't know the national pay rate!) but yes your money should go up after 12 months L8.

£375.16 in deliveries.
£354.56 basic + £20.60 supplement.

Looking at my supplement it reads £20.06

That's because you purchase annual leave.
If they didn't reduce your supplement you wouldn't get any during the weeks you purchase.

[robg]

Not sure what it is (can't believe i don't know the national pay rate!) but yes your money should go up after 12 months L8.

£375.16 in deliveries.
£354.56 basic + £20.60 supplement.

I get £319.10 + £20.60 supplement ?

[taurus88]

Not sure what it is (can't believe i don't know the national pay rate!) but yes your money should go up after 12 months L8.

£375.16 in deliveries.
£354.56 basic + £20.60 supplement.

I get £319.10 + £20.60 supplement ?

I guess you haven't been with RM for a year yet (nor even 6 months judging by that). Pay increases after 6 months and after one year to reach the amounts listed above.

[robg]

I guess you haven't been with RM for a year yet (nor even 6 months judging by that). Pay increases after 6 months and after one year to reach the amounts listed above.

Thanks, yes I've only been here about 2 months now