April 2008 Income Tax and NI Changes: How will they affect you?

jem16

Derek_Duval wrote: »

Is this new code likely to carry on into other years, 2009/10 onwards?

Only for this year - who knows what future years will bring.

jem16

Agent_C wrote: »

I'd be interested to find this out as well. I'm off back to Uni too - I will get a pay packet in September, but nothing after that. Will I be able to apply for a rebate?

If you don't intend to work again this tax year you can apply for any rebate due after your last pay.

DebDay

My husband is being made redundant as of Sunday. He is due one more pay packet from the company. How can I ensure that he gets his rebate? Does it just mean that he will automatically be taxed less on his wage?

If it doesn't happen how can I 'chase it up'? Would I have to go through the company administrators or through the tax people??

Thanx

emweaver

We fall into that earning bracket, is the £60 in sept an actual figure or is it an estimate that varies on actual earnings?

dhassen

emweaver wrote: »

We fall into that earning bracket, is the £60 in sept an actual figure or is it an estimate that varies on actual earnings?

I heard is was exact. We (those getting it) are getting £120 back each. First installment 60 in Sept, then £10 per month for the next 6 months till next (financial) year.

dhassen

ExNicotineQueen wrote: »

Since April 2008 my monthly wages have increased by £10 per month (not due to any pay rises or anything).

Thanks for that... It's been hard to work out for me because I went up a pay point in April, so couldn't compare to before that.

Syn

DebDay wrote: »

My husband is being made redundant as of Sunday. He is due one more pay packet from the company. How can I ensure that he gets his rebate? Does it just mean that he will automatically be taxed less on his wage?

If it doesn't happen how can I 'chase it up'? Would I have to go through the company administrators or through the tax people??

Thanx

{bumping debday's Q and asking a similar one}

My gf was in full time work between oct 07 and june 08 but will not be working when this rebate comes through, how can she go about receiving what she is entitled to?
Thanks

boobyru

Hi

Does anyone know if this applies to contractors/temps? Also, does anyone know where I can get the official info on this from??

Thanks!!!

AirlieBird

So many people asking will I get it.

Lets set things out straight. It's a change in your personal allowance, so if you work at anytime between 7th September and the end of the tax year and pay tax through PAYE then the amount of tax you pay will be adjusted so you have paid the right amount of tax based on this personal allowance - providing your tax code doesn't show Wk1 or M1.

If your not PAYE then when you fill out your self assessment the tax you owe will be based on the revised personal allowance.

If you've paid tax this year, but not going to work again, then you'll have to submit a tax reclaim (as you should do anyway as you would've paid too much tax without this change in the personal allowance).

For more info see Understanding the changes to the Personal Allowance and basic rate tax band in September 2008 (HMRC link)

Paul_Herring

Potential avenue for questions if anyone's interested: http://news.bbc.co.uk/1/hi/programmes/moneybox/7595767.stm