Tax Archives
Having a job is expensive
Being a student I am currently paying very little tax. My part time job fits me nicely within the personal allowance for income tax, I don't have a car so I don't pay road tax, I'm exempt from council tax. It's quite a nice situation.
But when I graduate and get a job, if you take into account what percentage of my income things like council tax and road tax and look at how much tax I will be paying on the top part of my salary (so it works out effectively less when you take my personal allowance into account) I will be paying a lot of tax next year. Check it out:
20% income tax
11% national insurance contributions
9% student loan repayment
4% council tax
1% road tax
That is a total of 45% tax!
I still haven't got my tax back
It's been two and a half months since the tax year ended and I still haven't got my tax back :(.
Luckily, when it does get paid back to me, it gets paid with interest so I'm not loosing out on anything.
It's such a mission to get it sorted though, I've been on the phone with the tax office who told me to ring another tax office. They told me to get my P60 form.
I got my P60 form and phoned them up again. They said I needed to complete a P90 form which they sent out to me and has finally arrived which I now need to find a load of other details to fill out on it.
The tax year ended didn't it
I headed over to blog once more and noticed my last post was about the fact we could soon claim our tax back - I really need to get round to doing that.
Tax year approaches the end
The 2007/2008 tax year is drawing to a close. That's a good thing. Why? Because I have paid around £130 in tax this year my total taxable income is well below that so I should be getting all that back.
- Greetings! I'm Chris and this is my blog about debt, finance and generally having no money. Luckily as a student, it's just expected of me to have no money so it's all good.