El Cid Posted October 31, 2018 Share Posted October 31, 2018 What exactly is given away? I don't even know why it's being called that. A small increase in tax allowances, as has happened every year for quite some time, in a way that mostly benefits the well off... And no increase in tax on petrol, as has been the case for about a decade. Hardly being generous. For me its £2770 per year better off, although I don't claim any tax credits, maybe its wrong? https://www.independent.co.uk/news/uk/home-news/budget-2018-tax-calculator-money-philip-hammond-announcement-a8601176.html Link to comment Share on other sites More sharing options...
Cyclone Posted October 31, 2018 Share Posted October 31, 2018 For me its £2770 per year better off, although I don't claim any tax credits, maybe its wrong? https://www.independent.co.uk/news/uk/home-news/budget-2018-tax-calculator-money-philip-hammond-announcement-a8601176.html That's largely coming from income tax saving then? I can't really fill it in for myself, I adjust my income from my company to go into the upper tax band by only a small amount, and this calculator makes no allowance for any salary sacrifice pension contribution. Link to comment Share on other sites More sharing options...
Robin-H Posted October 31, 2018 Share Posted October 31, 2018 That's largely coming from income tax saving then? I can't really fill it in for myself, I adjust my income from my company to go into the upper tax band by only a small amount, and this calculator makes no allowance for any salary sacrifice pension contribution. Nobody will be able to save that much from income tax savings. The most I can get that calculator to say income tax saving is for £860. That goes down for very high earners (as the personal allowance is withdrawn presumably). Also, the national insurance contributions go up, so you don’t see all of those savings anyway, particularly if you earn more.. Link to comment Share on other sites More sharing options...
truman Posted October 31, 2018 Share Posted October 31, 2018 That's largely coming from income tax saving then? I can't really fill it in for myself, I adjust my income from my company to go into the upper tax band by only a small amount, and this calculator makes no allowance for any salary sacrifice pension contribution. MAybe El Cids comes from a living wage rise as well..due in next year I believe..? Link to comment Share on other sites More sharing options...
El Cid Posted October 31, 2018 Share Posted October 31, 2018 I have done the BBC calculator, compared to 2018/19, I will pay £12.92 less(income tax and NI) a month in 2019/20. But that states 2019/20 https://www.bbc.co.uk/news/business-17442946 Link to comment Share on other sites More sharing options...
truman Posted October 31, 2018 Share Posted October 31, 2018 I have done the BBC calculator, compared to 2018/19, I will pay £12.92 less(income tax and NI) a month in 2019/20. But that states 2019/20 https://www.bbc.co.uk/news/business-17442946 That doesn't add up to £2770 as you posted? Did you miss a decimal point? Link to comment Share on other sites More sharing options...
convert Posted October 31, 2018 Share Posted October 31, 2018 That doesn't add up to £2770 as you posted? Did you miss a decimal point? Maybe he had Diane Abbott and Labour do the numbers... Link to comment Share on other sites More sharing options...
El Cid Posted October 31, 2018 Share Posted October 31, 2018 That doesn't add up to £2770 as you posted? Did you miss a decimal point? That was the yearly figure from https://www.entitledto.co.uk/ I guess I made an error Link to comment Share on other sites More sharing options...
muddycoffee Posted October 31, 2018 Share Posted October 31, 2018 I have done the BBC calculator, compared to 2018/19, I will pay £12.92 less(income tax and NI) a month in 2019/20. Are you sure about that. From my understanding they kept an in crease in NI hidden. I read that some journalists only found this detail this morning. Link to comment Share on other sites More sharing options...
Robin-H Posted October 31, 2018 Share Posted October 31, 2018 Are you sure about that. From my understanding they kept an in crease in NI hidden. I read that some journalists only found this detail this morning. For higher earners. Lower earners will see a reduction in the amount of NIC they pay. Link to comment Share on other sites More sharing options...
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