Personal allowance lost over £100k

SueC_2

For the love of all things good in the world, cut the OP some slack people!

We all earn different amounts, which can be affected by any number of things - qualifications, intelligence, ability, vocation, industry, seniority, dedication...blah blah blah.

Does it really matter what the level of earnings is? The OP came on here concerned that their monthly take-home has significant reduced, and asking for help to deal with this. We have no idea of their situation (and that relates to their out-goings as well as their in-comings), but who the hell are we to cast aspersions?

If you see someone 'doing better' than you, it is something to aspire to, not something to resent. Bitterness is a particularly unattractive quality.

goRt

SGM wrote: »

OK everyone, thanks for taking the time to reply; I'm not sure whether to curl up and hide, or try and defend myself. In my defence, I've worked hard since leaving comprehensive school and getting an average degree from an old polytechnic, and been fortunate to keep my career moving forwards by looking out for opportunities to progress as they came up. No magic here, just hard work over 25 years.

Pastures New, having thought through what you've said, you must of course be right, that I've just lost the tax I wasn't paying on my £6495 allowance. What threw me was that my salary was down £500 this month, our payroll department told me to contact the tax office, and the tax office explained that the new ruling meant I was effectively losing this amount of money.

I take from this that our payroll team are wrong, and while I'm sure the tax office is right, they didn't take the time to work through my problem and hence sent me away with the wrong information.

I'm sorry if I came across as greedy, yes I'm a little over-stretched but a divorce can have that effect on even the most robust of finances, and thanks to everyone who either sympathised or contributed in some other way.

You'll find that this is your 2nd month's pay of the new tax year and your employer hadn't updated its systems to cater for Labour's tax change in time for the new tax year.
Your employer has now caught up, so 2 months tax has been taken.

There were other things taken off us this tax year, so you'll be out about £235 per month.
You'll have to get a tax accountant as all of the available dodges have bee stopped (increasing salary sacrifice into pension funds being the one referenced by others)

I got divorced - expensive at the time, but best thing I ever did in the long term

DVardysShadow

SueC wrote: »

For the love of all things good in the world, cut the OP some slack people!

We all earn different amounts, which can be affected by any number of things - qualifications, intelligence, ability, vocation, industry, seniority, dedication...blah blah blah.

I don't think it is bitterness. I don't make as much as OP, but I am very happy with what I do have.

It is other aspects. It is the sight of someone on that money not understanding how much they are taxed by losing the personal allowance. It is the thought of a car loan on that money. And it is the comparison with the plight of some of our Debt Free Wannabe's.

SueC_2

DVardysShadow wrote: »

I don't think it is bitterness. I don't make as much as OP, but I am very happy with what I do have.

It is other aspects. It is the sight of someone on that money not understanding how much they are taxed by losing the personal allowance. It is the thought of a car loan on that money. And it is the comparison with the plight of some of our Debt Free Wannabe's.

So, the only people who should earn over £100k are tax experts?

The only people who should be able to take out loans are those that don't really earn enough to be able to re-pay them?

And you're only allowed to want to be Debt Free if you earn beneath a certain amount and have debts above a certain proportion?

I challenge anyone who has ever had a pay increase of any kind to deny that somehow, without any effort whatsoever, their out-goings increased proportionately and at the end of the day they weren't left feeling any "better off" whatsoever.

If that same person then found their monthly income strimmed back by a certain percentage, they also would be wondering how the shortfall would be covered. That same principle applies whether you're earning £15k, £50 or £100k+.

property.advert

Someone with more knowledge than me would have to chirp up but if the OP were to sacrifice some salary into his pension, then it appears the allowance returns, at least on http://listentotaxman.com/index.php for one.

That might not be possible and it requires some careful medium term planning regarding pension, mortgages, lump sums, retirement ages etc. but it does offer an option, or seems to.

Rothschild

What a sad disgusting sight!!

People who have failed in life to be smart-enough to become successful having a go at somehow who has calling them ''greedy''...

When the ONLY reason that those people who failed to become successful manage to survive on their crappy salaries which they need to get so heavily subsidised by other tax-payer's money,
is because the people who managed to become successful high-earners!!

SueC_2

Something else that strikes me is how often on these boards we see people criticising the 'spongers' who live off benefits.

It seems that we're damned if we do (earn a decent salary) and damned if we don't.

Hardly the supportive little forum we crack it out to be. Sigh.

Perhaps we should all just be striving for mediocrity?

pinkichiban

I have worked extremely hard all my life and do not rely on benefits. You can call me jealous or whatever you'd like, but I have absolutely no sympathy for anyone on such a high salary whinging.

Be grateful that you have achieved so much and have so much. Maybe with loans etc you've overstretched yourself? Something us poor people are always being accused of when we have to use loans or credit just to cover the basics.

SueC_2

SGM wrote: »

I am in the fortunate position to ....

As I say, I know I am fortunate....

SGM wrote: »

OK everyone, thanks for taking the time to reply; I'm not sure whether to curl up and hide, or try and defend myself.

I'm sorry if I came across as greedy...

pinkichiban wrote: »

Be grateful that you have achieved so much and have so much.

The OP's already sounding quite grateful if you ask me.

But having something to be grateful for shouldn't stop any of us from needing or asking for help on something else.

UnderPressure

SueC wrote: »

Something else that strikes me is how often on these boards we see people criticising the 'spongers' who live off benefits.

It seems that we're damned if we do (earn a decent salary) and damned if we don't.

Hardly the supportive little forum we crack it out to be. Sigh.

Perhaps we should all just be striving for mediocrity?

I am still quite new here but couldn't agree more with this comment, I had heard about these forums from various sources, about how friendly and helpful they were and although 9 times out of ten there is always a friendly reply with a helpful answer, the amount of vindictive totally uncalled for comments I come across reading these forums is unbelievable, funnily enough generally from the same people.

Some of the comments in thsi thread are terrible and the peole that posted them must obviously lead very sad life's to verbally attack a genuine poster with a genuine tax concern in the way they did.

It is a shame these forums dont seem to have "traditional" moderator's, there is a LOT of dead wood here that could be banned!