Tuesday, 29 April 2008

Thanks Gordon

So much for the increase in personal allowances* at the start of the new tax year on 5th April. I just got my April payslip - my take-home pay has gone up by a whole £1.25 a month!

Thanks, Gordon. Your fiddling with the tax bands and National Insurance** rates makes me SO much better off. Based on the change in personal allowances alone from £5,225 to £5,435, I should have got an extra £17.50 per month in my pocket. But no, you had to find another hidden way to claw this money back.

- Pam (not a happy taxpayer)

* The portion of income that is tax free in the UK.
**Just another tax despite its name. The common belief that this is state pension contribution and National Health Service contribution is wrong - the money goes into the general tax pot. It does, however, earn you "points" towards your state pension.

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