Has anyone had this month's payslip (10p tax rate related)?

tghe-retford

Has anyone this month already had their payslip for this month, specifically those who earn below £18,500 - with the new 20p tax rate (and the abolition of the 10p tax rate)?

I have had two people on another forum I use report that they have had their payslips for this month and the amount of money they have lost is significantly more than the tax calculators such as Listen to Taxman and Daily Mail have reported, as well as what the media is reporting.

I just wish to allay my fears that the 10p tax rate abolition is worse than predicted. Does your income tax deductions for this month roughly match the predictions given on the tax calculators or is your tax deduction much worse than predicted?

I'm due to be paid on Friday but won't get my payslip until Monday to confirm my own situation.

Thanks in advance. Your help is appreciated.

**woody123**

I've had my payslip and although i've been paid wrong this month it does look as though if i have lost any money through this it is only pennys and can't see a big difference to what i expected.

And i do earn under 18500

Mikeyorks

tghe-retford wrote: »

is significantly more than the tax calculators such as Listen to Taxman

It has the specific rates of tax and NI built in ..... so it's not going to be wrong, provided you put the correct detail in?

Much confusion is evident about the entity of the changes - if you read these forums. So I'm not surprised some people aren't getting what they 'expect' ..... but don't blame the calculator. It works if you put the right detail in.

donnalove

ive had hubbys payslip he's on 15,000 plus gets allowance for tools(100 a year) and we are about 80p better off a month
i used calculater few months back and was expecting a big loss of about 70 quid a month

System

I'm just over £15000 and I'm £1.02 worse off this month.

tigtag02

What people are forgetting to factor into these calculations are that:

• You will have a higher tax allowence
• You will pay less NI

Not that I am in support of the new rates but that the overall figures are considerably less than first imagined.

HTH

tghe-retford

I have had my pay today and from first glance, it looks as if I have lost significantly more than what the tax calculators have estimated. But, I will have to wait until Monday when I get my payslip to get a true representation of the damage that Labour and hyperinflation on essentials and utilities have caused.

stevedb11

I have recentley recieved my Pension paymet Advice slip, my pension is £679 a month (my only income), on my last slip (Tax month 12) my tax was £31.15p,on my latest slip (Tax month 01) my tax is £45.00 :mad: .
I am 58 so at present it looks like I will not be getting any help :-( .

Thanks a bunch Mr Brown, don't even think about getting my vote in the next Election.:mad:

Elaine_Wilson

I don't think anyone can see the full effect of the changes yet.

Online calculators will show the overall effect of the changes during the year. By this I mean that they will work out the annual tax bill, etc and then divide it by 12 if you have asked for a monthly figure.

This is fine as far as it goes but it does not allow for the timing of the changes.

The personal allowances were increased with effect from the 6th April. So any pay in April will have the benefit of that change.

But the changes in the tax rates only takes effect on the 18th May. So an April salary will have had the old rates applied to it. That is, there will still be a 10% band and the basic rate of 22%.

Wait until you get your May figures and then average the two to see the overall change.

stevedb11

Elaine_Wilson wrote: »

I don't think anyone can see the full effect of the changes yet.

Online calculators will show the overall effect of the changes during the year. By this I mean that they will work out the annual tax bill, etc and then divide it by 12 if you have asked for a monthly figure.

This is fine as far as it goes but it does not allow for the timing of the changes.

The personal allowances were increased with effect from the 6th April. So any pay in April will have the benefit of that change.

But the changes in the tax rates only takes effect on the 18th May. So an April salary will have had the old rates applied to it. That is, there will still be a 10% band and the basic rate of 22%.

Wait until you get your May figures and then average the two to see the overall change.

Hi Elaine,
If thats True about the 18th May, why has my Tax increased on my payslip dated 1st May. Steve

redmel1621

stevedb11 wrote: »

I have recentley recieved my Pension paymet Advice slip, my pension is £679 a month (my only income), on my last slip (Tax month 12) my tax was £31.15p,on my latest slip (Tax month 01) my tax is £45.00 :mad: .
I am 58 so at present it looks like I will not be getting any help :-( .

Thanks a bunch Mr Brown, don't even think about getting my vote in the next Election.:mad:

I just want to say, I know it isn't great that PM Brown has done away with the 10p tax rate BUT It was Labour who introduced it and the Tories were completely against it. If it was up to them you wouldn't have had the benefit of it for the years that you have and would therefore not be having this debate now. So please do think before you throw away a vote to Tories...Even vote Green or something......

Just to clarify, I do earn significantly less than £18500.

Mel x