You tax code is only lowered if yu overpaid the year before.
No married tax allowance (unless you were born before 1935, don't understand that one)
No tax allowance for children (tax credits instead, but most people do not qualify for them).
I wish I only paid £200 in income tax. £2500 per month for me.
2007-11-07 03:06:47
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answer #1
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answered by Anonymous
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When the Government got rid of the married tax allowance, they didn't want to penalise pensioners already getting the benefit, so people that were pensioners in that tax year still get the allowance. New people coming on to pension don't. The cut off birth date was 05/04/1935. I agree this is most unfair, and typifies the current Governent's attitude to pensioners.
The automatic tax allowance for children with married parents was stopped years ago (in the 80s?). The additional personal allowance was brought in for single parents only, but this stopped when the new system of tax credits was brought in to replace it.
Your tax code could be lowered (which means you pay more tax) if you had underpaid in a previous tax year, you have untaxed income (eg interest) or you are receiving benefits from your employer, like a car or private health care. Your form P2, notice of coding, will specify.
All I can say is that you are lucky to be earning that level of income.
2007-11-07 10:50:52
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answer #2
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answered by steffi 7
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This month I paid nearly 600 quid in TAX & NI, so don't get me started.
Being married and having kids has ZERO effect on your tax code, unless you are on a low income (<50,000 ish between you and your partner) in which case you might be entitled to TAX Credits which are given via an adjustment in your code.
2007-11-07 03:00:20
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answer #3
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answered by mark 7
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Its certainly not for being married, there is no longer tax exemption for that.
I think tax credits now take care of the children, so I think the code is only lowered if you paid too much last year :(
2007-11-07 02:59:30
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answer #4
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answered by Anonymous
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If you are married, you always will come out better to file as "Married, Filing Jointly." Of course the more children you have, the more dependents you can claim, hence more deductions. Single tax payers always pay more versus having a spouse to claim as a dependent as well. But if you and your spouse both work...always file jointly rather than separate returns. There is no advantage to filing separately.
2007-11-11 01:35:16
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answer #5
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answered by Anonymous
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it is based on your earnings. I think a married person's allowance is slightly different. If you have children then you can get child credits but I think you have to apply for them. If you don't think your code is right you can always ask at your local tax office, they are very helpful.
2007-11-07 03:00:36
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answer #6
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answered by Lozzie p 2
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you better believe it- i've been taxed £800 in a month on several occasions.
Can't help but think most of us seem to be working to subsidise a whole bunch of freeloaders who do fnck all all day but claim benefits.
2007-11-07 03:04:04
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answer #7
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answered by Icarus 6
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