pay increase

[dohnut]

Well the end of the tax year is drawing close as is the budget, So will we get a pay increase this year?, a colleague of mine said we get 2% every year cant remember if this is true or not anyone any ideas.

[DGP1]

No payrise this year, got to pay for those bankers to privatise us somehow

[TrueBlueTerrier]

Well the end of the tax year is drawing close as is the budget, So will we get a pay increase this year?, a colleague of mine said we get 2% every year cant remember if this is true or not anyone any ideas.

no its not true.

Since I started we have pay freezes 1.5% and even 3.5% and in between. Pay rise is not guaranteed.

[maisymoo04]

Heard of a lump sum payment

[UnhappyGremlin]

One good thing is that from April, ie. the start of the next financial year, everyones LEL(the amount you earn prior to paying tax) is going up, I think by about £900, which will mean approx £5 or £6 extra a week in your pocket.

[RobertT]

One good thing is that from April, ie. the start of the next financial year, everyones LEL(the amount you earn prior to paying tax) is going up, I think by about £900, which will mean approx £5 or £6 extra a week in your pocket.

The Lower earning Limit is what you earn before you start to pay National Insurance and is going up by £2 per week:
http://www.hmrc.gov.uk/rates/nic.htm" onclick="window.open(this.href);return false;

The Personal Tax Allowance is what you earn before you start to pay Income Tax and is going up from £8,105 to £9,440 per year for the under 65's, although RM employees have an extra £120 added on for uniform cleaning:
http://www.hmrc.gov.uk/rates/it.htm" onclick="window.open(this.href);return false;

[daveyeff]

One good thing is that from April, ie. the start of the next financial year, everyones LEL(the amount you earn prior to paying tax) is going up, I think by about £900, which will mean approx £5 or £6 extra a week in your pocket.

they'll probably increase the national insurance by 5 or 6 quid a week then.

[UnhappyGremlin]

One good thing is that from April, ie. the start of the next financial year, everyones LEL(the amount you earn prior to paying tax) is going up, I think by about £900, which will mean approx £5 or £6 extra a week in your pocket.

The Lower earning Limit is what you earn before you start to pay National Insurance and is going up by £2 per week:
http://www.hmrc.gov.uk/rates/nic.htm" onclick="window.open(this.href);return false;

The Personal Tax Allowance is what you earn before you start to pay Income Tax and is going up from £8,105 to £9,440 per year for the under 65's, although RM employees have an extra £120 added on for uniform cleaning:
http://www.hmrc.gov.uk/rates/it.htm" onclick="window.open(this.href);return false;

I thought the LEL was both incorporated into one. Still, no matter. At least we benefit. Don't think NI contributions are due to change. The increased Personal Tax Allowance was announced in last years budget, I just happened to remember it. Don't think it matters tbh, what we get with the one hand will be eaten up with price increases etc.

[tiggle]

One good thing is that from April, ie. the start of the next financial year, everyones LEL(the amount you earn prior to paying tax) is going up, I think by about £900, which will mean approx £5 or £6 extra a week in your pocket.

yeah but i understand further raises in the tax allowance will be at one percent instead of inflation which means the extra will be cancelled out in 3 years and beyond that it will be a loss,i know i was shocked to hear that the conservatives would do anything that would make the poor poorer.

[RobertT]

yeah but i understand further raises in the tax allowance will be at one percent instead of inflation which means the extra will be cancelled out in 3 years and beyond that it will be a loss,i know i was shocked to hear that the conservatives would do anything that would make the poor poorer.

I think you may be getting mixed up with the level that you become a higher(40%) rate taxpayer there.
http://www.saga.co.uk/money/pensions-an ... anges.aspx" onclick="window.open(this.href);return false;

[CORTINA]

I cannot remember being actually better off from any past budget in the past 25 years...

You are given extra allowence in one had and something else is increased to counteract the benefit gained

Only a fool in the current economic climate would think that they are going to be actually better off with more cash to spend on themselfs from any tax giveaway.... NI will go up .... then Gas and Electricity will increase and you will be in negative territory again..... no better off at all.

Cyprus has just annouced they will take 10% of savings from bank accounts in cyprus.... what a crazy world we are now living in.....

As things get worse in the uk .. more cut backs can be expected and more tax taking measures will no doubt follow...It was announced last friday that a quarter of a million extra school places are needed because of the increased population ...another major cost to the tax payer.... and now annouced 30% of our electricity is imported...just crazy ..no wonder the uk is in trouble... 650 highly paid MPs and they cannot get things right... we end up in this mess

The pressure is on.... we have had 5 years of downward trends....lets see what happens the rest of this year.... and next year ..and the next................ 2525 maybe a good year....?

[fishtank]

Cyprus has just annouced they will take 10% of savings from bank accounts in cyprus.... what a crazy world we are now living in.....

Expect a run on the banks on monday in Spain,Italy,Portugal,Greece and possibly others.
Cyprus is on a bank holiday weekend which is obviously why they picked now to steal people's savings but at some point they will have to open....
Apparently you can't find a working ATM on the entire island...technical issues.

[dohnut]

I'll be watching the ftse 100 closely over the next few days, as people are likely to withdraw there money from the banks, which will cause the ftse to go down, and hence my millions that are invested in various non profit organisations.

[CORTINA]

With annouced record levels of part time workers and dropping full time jobs... that means that more PT workers means less tax paid and less revenue to the government....... with even more PT workers claiming low working benefits

This said if the trends continues then economically the time will come that government out goings will be more than income...this on top of the massive current government borrowing debt of hundreds of billions...... things are not getting better..... meanwhile the 650 MPs are showing of the lack of acheivement ability to sort the UK financial crisis out..... or we would not be in the current downturn in financial stability....... one could say that our MPs fiddle while Rome burns.....

This said the agenda of high earners getting richer by tax avoidance is testament to the priority that MPs look after one sector of society.... but talk about how wrong it is in another breath..... but do nothing.

We are embarking on a new era of people having to live on lower standards .. instead of the past 15 years of the economy fuelled by massive credit debt......

Companies complain of lack of bank finance investment to expand their production....producing more maybe a liability if spendable incomes continue to drop and retail sales retreat more as the past 5 year trend.... shows..

It has been said that more unemployed need to take a PT job... to cut the unemployment rate... ... that said nobody can build a life on PT work... buying a house or even renting is not an option on lower hours of working.... but PT workers are an asset to companies in creating lower staff employment costs.....

House prices and utility costs are 25% overpriced in relation to ability to buy or pay for... 650 MPs constantly fail to regulate utility bills.... prices are more by importing 30% electricty for abroad.... crazy..... we should be self sufficient in our electricity requirements...basic logic ... and not at the mercy of other suppliers from other countries ..how crazy it that..?

RM will no doubt be effected more in time...and the mention sell off in the autumn this year seems to be very lacking in information on the media..... if it goes ahead then Posties will be on a totally different road into the future ..US postal service is in major trouble reported in January... proposed stopping most saturday deliveries in August.. to save 2 BLN Dollars ... we will no doubt follow in they go ahead ..

It looks like a major financial week next week.... with the budget on Wednesday .... could be very interesting how Osbourne shows how good the government ideas are stated for the future....

[Postie45]

Cyprus has just annouced they will take 10% of savings from bank accounts in cyprus.... what a crazy world we are now living in.....

Expect a run on the banks on monday in Spain,Italy,Portugal,Greece and possibly others.
Cyprus is on a bank holiday weekend which is obviously why they picked now to steal people's savings but at some point they will have to open.... :nervous
Apparently you can't find a working ATM on the entire island...technical issues. ;liar

technical issues - most likely the ATM is out of funds as everyone has drained as much of their accounts as possible.