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Are we getting a tax rebate in Sept?

(7 Posts)
whattodonext Sat 09-Aug-08 22:31:12

My dh seems to think we are all getting £120?

ChasingSquirrels Sat 09-Aug-08 22:33:55

this might be the effect of the increased basic rate band to compensate for the 10% band going. The tax codes are only just being updated so you will get a cumulative effect when it comes through, thought mine came through on my july pay. don't think it wil be £120, that will be the annual amount.

DaisySteiner Sat 09-Aug-08 22:38:59

My understanding was that we would be getting £60 in September and then charged £10 a month less in tax after that.

ChasingSquirrels Sat 09-Aug-08 22:41:12

hmrc website says sep aswell. sure my code was different last month...

ShrinkingViolet Sun 10-Aug-08 20:55:49

tax codes change on 7th September to make up for the 10% thing, so current codes of 543L become 603L. No changes should be made before 6th Sept.
No mention of any actual cash being handed over (unsurprisingly) - I would think it will all happen through the tax codes.
Personal allowance increases to £6035, and starting point for PAYE will be £116 p.w. or £503 per month.

KatyMac Sun 10-Aug-08 20:57:18

But it's a con isn't it

As it only lasts for a year

ChasingSquirrels Sun 10-Aug-08 23:42:04

why will it only last a year? as far as i am aware the 09.10 rates haven't been announced, but I really can't see them lowering them.

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