Pay increase 2008!!!

I thought they gave you 6 of them!

Anyone know what the increase will be this year? I heard 4.6%?

It's actually Feb RPI plus 0.6%.

We won't know the RPI for Feb until about the middle of March. The figure for January was 4.1% and it's unlikely to be much different for Feb.

But you need to add the personal tax-free allowance, which is over 5000.

i'm sure that means the first 5k or so they don't touch but after they hit you, i cant imagine it'd be your salary for the year less 5k?

Sadly the 2008/9 details are already known - the budget is announced in November but largely implemented in April. (something to do with elections being in Spring and we'd forget by then how much HM Govt are screwing out of us)

2008/2009

Personal Allowance : £5,435
Then £0 - £2,230 taxed at 10%
Then £2,231 - £34,600 taxed at 22%
Higher tax 40% starts at £34,601

So if you add your allowances thats:

First £5,435 is tax free
Then £5,435 - £7,665 taxed at 10%
Then £7,666 - £40,035 taxed at 22%
£40,035 + is taxed at 40%

The biggest tax deductible allowance is pension payments, but there are more if you decide to investigate further.

The staff pass and PRIV were recently (from what I read) decided not to be classed as a perk, so are thus not taxable benefits.

If you have a lot of savings and nudging the 40% tax band would cost you dear, get financial advice and probably top up your pension with AVC's (or give a chunk to charity)

After today's Budget we know the tax bands for the coming tax year:

www.hm-treasury.gov.uk/budget/budget_08/press_notices/bud_bud08_press02.cfm

2008/9 tax year:
Personal allowance £5,435
20% band £0-£36,000
40% band Over £36,000

So, to pay 40% tax your taxable pay needs to be over £5,435 + £36,000 = £41,435.

So, unless inflation is absolutely massive in Feb 08, train ops will escape higher rate tax.

Pension contributions are deducted from your gross salary, so reduce your taxable pay.

The RPI figure for year ending 29 Feb 08 will be announced on 18th March and this will fix the pay rise.

Feb RPI is 4.1%, so pay rise is 4.7%.

Got mine today, it's only gone up 3.9%, so I'm up on the deal!

Living in Kent, I don't have to pay for the Olympics or any of Ken's other schemes.

i live in berkshire (slough borough) oh well i guess a 4.7% rise on a 5 digit salary still out weighs some rises on bills and taxes adding up to 4 digits

Brilliant

They are the charge out rates Metrodebt charged LUL for their staff.
I doubt Tubelines are too different!

I have been unable to decipher if it is the hourly rate that Metronet chage when their staff are required for non contractuall work that requires their presence (such as a Signalling Technical Officer to be present when work is taking place near their equipment) and then worked up into an annual amount???


There is something in that Evening Standard piece about £25k for 2 parking spaces. Thats nothing compared to costs of other work!

I used that BBC Budget Calculator, and I'll be better off by around £256 by this time next year... Your own circumstances will dictate if you are +/-

Yet but thats if i was on £40111 07/08 but i was not i was on £38311