doc.fixit Posted March 19, 2014 Share Posted March 19, 2014 Uk tax allowance £10,500 in 2015.. Wish ours was going to be that good, seems we are losing our edge. Link to comment Share on other sites More sharing options...
John Wright Posted March 19, 2014 Share Posted March 19, 2014 Yes, but the next £10,000 they pay 20% and we pay 10%. And are allowances for a married couple wholly aggregated in UK as ours are? Link to comment Share on other sites More sharing options...
Tarne Posted March 19, 2014 Share Posted March 19, 2014 Errr... isn't ours the same doc? Standard rate tax thresholds Single Person £10,500 Link to comment Share on other sites More sharing options...
x-in-man Posted March 19, 2014 Share Posted March 19, 2014 Don't they have 40% band if you earn 45(ish)k as well? The most you're going to pay here is 20%. (HNW included). Edit to add linky coz I looked it up https://www.gov.uk/income-tax-rates Link to comment Share on other sites More sharing options...
Tarne Posted March 19, 2014 Share Posted March 19, 2014 Oh balls, I've got it wrong, ours is £9,500. So yeah, a fair bit behind. Link to comment Share on other sites More sharing options...
Jam_Sandwich Posted March 19, 2014 Share Posted March 19, 2014 It's only going to increase too. Lib Dems want £12,500. Rumours they want to re-introduce a 10% tax rate too. Low earners on the rock are losing any incentive to stay Link to comment Share on other sites More sharing options...
GD4ELI Posted March 19, 2014 Share Posted March 19, 2014 And in the UK quite generous terms for ISAs, new savings bond for pensioners will be popular. Link to comment Share on other sites More sharing options...
alibaba Posted March 19, 2014 Share Posted March 19, 2014 Yes, but the next £10,000 they pay 20% and we pay 10%. And are allowances for a married couple wholly aggregated in UK as ours are? £10,000? Are you sure? Link to comment Share on other sites More sharing options...
Jam_Sandwich Posted March 19, 2014 Share Posted March 19, 2014 UK = £32,000 ish is 20% after the first £10k, thereafter 40% for ....not sure how much Link to comment Share on other sites More sharing options...
John Wright Posted March 19, 2014 Share Posted March 19, 2014 Yes, but the next £10,000 they pay 20% and we pay 10%. And are allowances for a married couple wholly aggregated in UK as ours are? £10,000? Are you sure? Yes our 10% band is £10,000, more or less, give or take Link to comment Share on other sites More sharing options...
alibaba Posted March 19, 2014 Share Posted March 19, 2014 Ah right, I was reading it wrong, I thought from the way the guide was written that the 10% band was only up to £10,500 (so only 10% for £1000 earnings). That's great, as a self employed person subcontracting I've been getting walloped for 20% on everything most of this financial year. They'll definitely have to give me some back. For once Link to comment Share on other sites More sharing options...
Monkey boy Posted March 19, 2014 Share Posted March 19, 2014 Uk tax allowance £10,500 in 2015.. Wish ours was going to be that good, seems we are losing our edge. Our tax advantages are for the rich, not for the poor. Link to comment Share on other sites More sharing options...
doc.fixit Posted March 19, 2014 Author Share Posted March 19, 2014 Yes, but the next £10,000 they pay 20% and we pay 10%. And are allowances for a married couple wholly aggregated in UK as ours are? Hi John, that may well be correct but as older, OAPs we are quite a bit worse off. The last pension rise took us just a fraction over the tax threshold which meant that we pay almost as much tax as the rise, ( I think we actually got about £8 a year). We also lost half of our over 65 tax relief and also lost the 'bonus' of £400, even if inflation isn't taken into account we are considerably worse off over the last year and as prices go up we actually, physically get less income so we are just a little disgruntled and I may add worried. Would you believe we have never, ever claimed any benefits? I'm afraid I really can't be pleased in these circumstances and no I have no intention, ever, of leaving the island. Link to comment Share on other sites More sharing options...
piebaps Posted March 19, 2014 Share Posted March 19, 2014 Isle of Man rates are here http://www.gov.im/categories/tax,-vat-and-your-money/income-tax-and-national-insurance/individuals/residents/rates-and-allowances/ £9500 free of tax and then £10500 @ 10% followed by everything else @ 20% We also have mortgage tax relief and relief on any personal loans Link to comment Share on other sites More sharing options...
Bobbie Bobster Posted March 20, 2014 Share Posted March 20, 2014 ...and not forgetting no capital taxes... Link to comment Share on other sites More sharing options...
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