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  1. #1
    Oriel27 Oriel27 is offline

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    UK Tax system 2013/2014 - More favourable to Low & middle income workers

    All,


    The Island (North & South) is in the depth of a very deep recession, paycuts, increases in tax, job losses, is very much the norm these days.

    I work in the North and I found it rather strange that im getting an increase in my take home pay come the end of March.


    the tax changes are as follows for 2013/2014:
    •What you can earn tax fee has went from £8100 up to £9440.
    •20% tax band has went from 0 - £34K to 0 - £32K
    •40% tax band has went from £34K - £150K to £32K - £150K

    My tax code will then change from 810L to 994L

    With the tax changes coming into effect, il actually be up – about £25 a month.
    All my mates in the South seem to be loosing over €100 a month this year.

    I’m just a few hundred below the 40% tax threshold (which im very very happy with)

    Isn’t it amazing the total contrast in the 2 tax systems on this island. The North’s tax system is favourable for low to middle earners. The South’s is not favourable to anyone.

    That way I see it, the North’s (or UKs) tax system encourages the low to middle earner to continue spending. This section of society actually keeps the economy going.

    Surely – who has the most sustainable system?

    or why is the Souths so different?
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  2. #2
    CarnivalOfAction CarnivalOfAction is offline
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    Quote Originally Posted by Oriel27 View Post
    All,


    The Island (North & South) is in the depth of a very deep recession, paycuts, increases in tax, job losses, is very much the norm these days.

    I work in the North and I found it rather strange that im getting an increase in my take home pay come the end of March.


    the tax changes are as follows for 2013/2014:
    •What you can earn tax fee has went from £8100 up to £9440.
    •20% tax band has went from 0 - £34K to 0 - £32K
    •40% tax band has went from £34K - £150K to £32K - £150K

    My tax code will then change from 810L to 994L

    With the tax changes coming into effect, il actually be up – about £25 a month.
    All my mates in the South seem to be loosing over €100 a month this year.

    I’m just a few hundred below the 40% tax threshold (which im very very happy with)

    Isn’t it amazing the total contrast in the 2 tax systems on this island. The North’s tax system is favourable for low to middle earners. The South’s is not favourable to anyone.

    That way I see it, the North’s (or UKs) tax system encourages the low to middle earner to continue spending. This section of society actually keeps the economy going.

    Surely – who has the most sustainable system?

    or why is the Souths so different?
    Only 1 thing wrong with that: "The South’s is not favourable to anyone. " It's favourable to the likes of O'Brien & O'Reilly and other pals of FG & FF who preach to the rest of us about how we must endure counter-productive austerity "in the national interest"

    You are correct in pointing out that a gov containing "Labour" is even more regressive than the British Tory gov. But they would give the devastating response that we have "economic illiterates" in the OSC Assembly.
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  3. #3
    CarnivalOfAction CarnivalOfAction is offline
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    Quote Originally Posted by CarnivalOfAction View Post
    Only 1 thing wrong with that: "The South’s is not favourable to anyone. " It's favourable to the likes of O'Brien & O'Reilly and other pals of FG & FF who preach to the rest of us about how we must endure counter-productive austerity "in the national interest"

    You are correct in pointing out that a gov containing "Labour" is even more regressive than the British Tory gov. But they would give the devastating response that we have "economic illiterates" in the OSC Assembly.
    What does the wee gray envelope to the left of this thread mean?
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  4. #4
    Oriel27 Oriel27 is offline

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    Quote Originally Posted by CarnivalOfAction View Post
    What does the wee gray envelope to the left of this thread mean?

    what you mean?
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  5. #5
    gijoe gijoe is offline
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    They are cutting the 20% band rate from £35k to £32k over 2 years which is not good for middle income earners. Making their 20% band circa €37k compared to €32k here. Of course they do not have the Social Solidarity Levy but their PRSI rate is 11% compared to 4% here. Plus local council tax which will run into the hundreds per person are on top of that again.

    All in all the gap is really not that big.
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  6. #6
    CarnivalOfAction CarnivalOfAction is offline
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    Quote Originally Posted by Oriel27 View Post
    what you mean?
    Oops, it's blue [for new, I presume?]. Mea culpa.
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