WO2 level 8, WO1 level 2, Capt level 5

Discussion in 'Army Pay, Claims & JPA' started by boycie, Feb 4, 2011.

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  1. All have one thing in common, 40% tax, we are truely being seen off, the pay freeze was generally accepted with much media interest (mainly as it effects civvies), the demise of many allowances generally recieved a nodding approval with little or no media interest, now all the above will pay 40% tax on all earnings, resulting in an effective pay cut, again the media paid this matter little interest.

    I am sure someone can do the maths, but there must be a point where it pays not to get promoted, or pass MATTS and therefore not recieve an annual pay increment and be on more money than a peer who recieves the increment??
  2. Why would you pay 40% on ALL earnings, you only pay 40% on the amount above the limit. My salary takes me to the limit so bonus is taxed at 40% as is Army pension.
  3. You've got that all wrong, therefore it makes you a thick whinging ****.
  4. I won't be as rude as Dingerr!

    Keepng this very simple and for this Tax Year (because there are Pooh Traps to snare the unwary), you should start at:

    HM Revenue & Customs: Income Tax allowances

    You do not pay income tax until your total income exceeds £6475. There is a 10% tax rate but that need not concern us here.

    Any income above £6475 is taxed @ 20% until you reach £37400+£6475 = £43875.

    Any income above £43875 is taxed @ 40% until you reach £100k when the personal allowance vanishes.

    Any income above £150k is taxed @ 50%.

    There are complications and National Insurance causes distortions that affect the so-called marginal rates of taxation, but they are complex and I do not have the patience to explain them here! Mr Brown was a master at raising taxes without people noticing and Mr Osborne is following a similar path.

    The bottom line is that, if you are lucky enough to be promoted, you will see an increase in your take-home pay, no matter the rank you have achieved.

    If you are close to the 40% bracket, there are steps that you can take to ensure that you stay clear for a while but they have to be taken in time.

    If you are close to the 50% bracket, Brigadier, you can have my card and I'll send the bill straightaway!


    Edited because, even though I have just finished my tax return (ouch) I still got this wrong!!
  5. Of course you can reduce your taxable income by increasing your pension provision and minimise liability on savings in ISas etc.

    But if your that worried use an accountant and maximise those claims you can offset. A good accountant will cost less than he saves you.
  6. I wasn't be rude litotes, just highlighting the futility of those that whinge at taxes, it just looked rude because he's a whinging thick **** ;-)

    There are only three sure things in life: Death, taxes and nurses.
  7. Dingerr,

    I am familiar with the first two, but am a bit short on the latter...

    For some reason, the bus that was always promised never turned up...

    If you can, cough, help, I would be obliged... ;)

  8. Experiences from a long time ago. I haven't been naughty with any nurses of late.
  9. Life sucks, I bet everyone below the rank WO2 would love to pay 40% tax.....get over it.

  10. BuggerAll

    BuggerAll LE Reviewer Book Reviewer

    Firstly, if you work for the government you don't really pay taxes. It's just recycling tax payed by some one else at great expense. If you work for the government your contribution to society is in terms of your time, blood, sweat and years.

    Secondly, in case you haven't noticed the country is broke. The idiots 'we' elected have bust us. We are all going to have to accept being a bit poorer. Now I hope that those at the bottom of the heap will be protected but if you are paying 40 0/0 tax you are not at the bottom of the heap.

    I've suggested elsewhere that some of the better paid members if HMF should take a pay cut. That would have been fairer than the cuts to allowances which tend to penalise people for doing what they are ordered to do.

    The country is broke we are all going to have to get used to being poorer.

    Sent from my iPhone using ARRSE so please excuse fat fingers and slips of the keyboard.
  11. My sentiments exactly, but not sent from my £400+ i phone, some bstrd nicked it, the poor bugger should not be chastised though he/she is probably in a very low tax bracket!
  12. It was probably some disgruntled RSM trying to make up for having to pay a bit more tax.

  13. You have got me thinking now, let the witch hunt begin, i was drinking in a T.A. infested den around the time!!
  14. Nor me, Dingerr, but I live in hope...


    (any nurses wishing to be naughty with me can simply pm me).

    Except Jarrod...

    Because, try as I might, I am not an Equal Opportunities Employer!