my income tax allowance

blinko

hi all , i earn about 10 - 11k a year pretty rubbish i know but i was wondering

Income tax allowances 2003-04 (£) 2004-05 (£)
Personal allowance
4 615 4 745
Personal allowance for people aged 65-74 6 610 6 830
Personal allowance for people aged 75 and over 6 720 6 950
Income limit for age-related allowances
18 300 18 900
Married couple’s allowance for people born before 6 April 1935
5 565 5 725
Married couple’s allowance - aged 75 or more 5 635 5 795
Minimum amount of married couple’s allowance 2 150 2 210
Blind person’s allowance
1510 1 560

http://www.inlandrevenue.gov.uk/rates/it.htm

given i get a 4615 tax allowance would i be able to use that to claim off of my yearly wage which in turn i think would give me about 1k ? or is there something im missing

nearlyrich

If your tax code is 474L you will pay tax on your earnings over £4745. Not sure if the age related stuff is relevant to you but it just means you pay tax on less of the income, i.e. you would pay tax on everything over the allowance. Hope this helps but if you call the tax office they are quite human these days and they will explain their systems and procedures in plain english.

MarkyMarkD

If you are working, your employer will already be giving you the basic tax allowance (almost definitely) and there's nothing to claim.

Given that everybody is entitled to the 4745 allowance, it is unlikely you are missing out on it.

blinko

is there anyway to find out if i have already used up my 4615 tax free allowance, and i think im something with a 6 on the end tax code basicaly i do 40 hours a week.

the age thingys dont apply im only 23

do you guys have similar problems with your employeers

Robert_Sterling_3

This is a bit of a tricky one.

dunstonh

your payslip will give you a running figure of your earnings to date.

If your employer is not doing that, you can add up the gross pay on your wages paid since 6th April 2004.

You do not use up the allowance in the first few months. It is averaged over the 12 months of the tax year. So 4745 would give you a tax free amount of £395 pm.

sarahlouise210

previous advice is correct.. your annual allowance of 4715 per year is split into 12 months and each month you have £392 that you can receive tax free. As you are only 23 you cannot claim tax credits if you do not have any children (however had you been 25 on £11000 per year you could receive £17.75 in tax credits. If you have one child who is over one you could get £3740 per year in a combination of childrens tax credi and working tax credit on a salary of 11000 working the hours you do(more if the child was under one) With no children you would have to wait until you were 25 to claim... but lets hope your salary has increased by then ???

blinko

thanks im afraid that in my company its almost impossible to earn over 13 - 14k even at the manager level and im a sales assistant, which is why im having to go back to college and get a damn edumacation . its a shame its taken me 3 odd years to realize it.

anyway thanks for the feedback basically i plan to quite my job in december would any remaining allowances inc the 10% on 1960 be used up or would i have to claim them back ?? and thanks for the input.

by the way there is a new girl starting at my work who is 23 and has a kid i think is 2 and is pregnant as we speak do you think she will get tax breaks straight away or will she have to claim them back ??

once again thanks for your info

sarahlouise210

if you do not work for the rest of the tax year then you would be due a repayment... you can either sign to say you will have no income until April 2005 or wait until April to claim If youhave a month or so off work with no income ou can be reaid any tax you are owed through your wages when you start a new job - if you claim benefit any tax refund you are owed will be made by them in April. Re the girl startin at your place.... if she is single she should make a claim asap after she starts work.. if she is part of a couple they will need to make a joint claim declaring both their incomes :-/

blinko

thanks sarah, yes im going to try and contact my local taxation place and see what they say about fillining in forms and taking my pay slip to them etc.

regarding the girl she is with someone but its not like a marrage or anything and im not sure on the stability of their relationship so i think she might just claim for herself.

anyway thanks for your help the way it is at the moment. asuming they havent given me my allowances is that im owed about 700 - 1000 off the top with it being about 1200 if i was to continue working to april in full time.

but i will let you know how it goes thanks

sarahlouise210

ok keep us posted. re the girl starting at your place.. it does not matter if she is married to her partner.. if they are living together as a couple they must claim as a couple.. - if the relationship does not work out and he moves out she can then make a claim on her own. That is the legal position and checks are made randomly so it would be unwise for her to consider claiming as a single person if she has someone living with her. However if they are in a relationship and not living together she can claim as a single person as that is what she is! ::)