5 Questions

skint2008

Sorry for all the questions however have searched and cannot find clear enough answers:

Some base info on me if this is relevant to you coming to your answer

Married
2 Children, 1 under 1, other 3
Work full time
Earn £38K basic, possible £5K pa bonus, Co Car benefit £5K, pay £1K pa into a pension


(1) tax credits, what are the annual earning tables that dictate your reward, we are due to circa £9K however only get £800 due to my earnings
(2) Do you get your class 3 NI paid whilst on maternity/sick re pension (state pension qualifing reasons)
(3) What is the state married annual pension payable?
(4) After my personal allowance, non guaranteed bonus, pension contributions do I pay higher rate tax?
(5) If so do I pay this higher rate on my co car?


Would really appreciate your guidance on these matters

mitchaa

skint2008 wrote: »

Sorry for all the questions however have searched and cannot find clear enough answers:

Some base info on me if this is relevant to you coming to your answer

Married
2 Children, 1 under 1, other 3
Work full time
Earn £38K basic, possible £5K pa bonus, Co Car benefit £5K, pay £1K pa into a pension


(1) tax credits, what are the annual earning tables that dictate your reward, we are due to circa £9K however only get £800 due to my earnings
(2) Do you get your class 3 NI paid whilst on maternity/sick re pension (state pension qualifing reasons)
(3) What is the state married annual pension payable?
(4) After my personal allowance, non guaranteed bonus, pension contributions do I pay higher rate tax?
(5) If so do I pay this higher rate on my co car?


Would really appreciate your guidance on these matters

1) You are not due anywhere near £9000, where did you get this rubbish from?

You are due the £545 family element of CTC and THAT IS IT. In the childs 1st year this is doubled to £1090, but when the child reaches 1, this will drop back down to the basic £545.

2) If you are receiving SMP, yes NIC will be paid as you're still an employee.

3) No idea

4) Higher rate tax is paid on earnings over £34600+PA of £6035 (£40635) Your bonus will push you into this band yes (£37K income -pension + £5k bonus = £42K)

5) not sure.

Did you really believe you would be entitled to £9k tax free cash in benefits with an income that puts you into or very close to higher rate taxation

Come on pal, benefits are for the needy:rolleyes: