Re: Taxation 2015 - 2016

You are quite right, I was a tech with GPO Telephones and, as you say, paid 25% of my wages in tax. In 1966 I went to Australia where I earned far more and paid less than 10% in tax - though in the 80s and 90s it crept up with bracket creep after Fraser stopped indexation.

The 90s and on saw the pollies trying to out do each other with tax cuts until now when we don't collect enough in tax.

Re: Taxation 2015 - 2016

I'm still waiting to hear what tax I'll pay on my occy pension, with the State Pension date fast looming. I have just over two weeks to go: should I have received it by now? I might phone my pension provider later to ask if they have received a new tax code.

I know I'll be paying tax...just want to know the nett amount.

At the moment all pensions (1 x large, 2 small) are under my allowance. The SP will leap frog well over it. I've done some basic calculations but maybe not to Inland Revenue standard!

Yes, every British tax payer finds it galling that we then have to pay tax on pensions if over our allowance. Sis and I discussed it the other day.

Re: Taxation 2015 - 2016

Mrs Grumble is seeing if she can transfer some of her unused tax allowance to me. It's currently worth around £17 a month. I might as well take every penny I can get because all my state pension will be taxed.