Bloody taxman...........

[FinallyFluid]

Before I start we are very aware that we are very lucky.

DH turned 65 at the beginning of this month, his FS pension starts on the 1st of September, he is working for another year on full salary and can then collect his state pension which will leave us in an OK position and we are aware of how lucky we are.

We knew we would be taxed to death for the next year and a half, but did the tax man really need to send through his new tax code, which understandably is vicious..... before he had the pleasure of one double bubble payday.

We had a family meeting last night and agreed amongst us which extra charities we are taking on whilst we are on double bubble.

It would have been nicer for the taxman's letter to arrive next week.

I feel your pain, I retired at end of April but not taking any pension yet (DH still working).

Applied for refund of April tax, got letter that I need to provide 20/21 P11D benefits statement. I posted that in early July (plus my employer will have done electronic update) and confirmed as received and actioned in mid July, refund dept aware of it but still no idea of when a refund will come.

I am aware that everyone supposedly had an electronic tax account, up to date in real time, so why am I not getting my refund?!

They are very quick to take money off us but very slow to give it back ☹️

It is not about the tax, God knows, we spent all night and morning in A&E, DS was quite harshly dumped yesterday, drank too much in a night club and ended up in A&E, DH and I both said this is where it is going, so we don't resent a penny of it.

I have had exemplary care from the NHS for two different primaries in five years, and Dh for a Cochlear Implant.

So more than happy to be taxed but Dear Taxman bugger of with your letter, until he has had is first double bubble.

What is an FS pension?

Full state?

Final salary

Well yes, it would be 'nice ' for anyone to have a tax break but either it's due or it isn't.

Can't he defer the pension for a year if he's still worrking?

I don’t understand why you are complaining about the tax code deducting taxes owed coming in promptly and on time in a letter so the right taxes are withheld from the start.

Surely it would have been worse to have this updated a month from now when you would also get a notice of outstanding tax owed? And then had to pay it from your current account?

We had a family meeting last night and agreed amongst us which extra charities we are taking on whilst we are on double bubble.

It would have been nicer for the taxman's letter to arrive next week

This makes absolutely no sense.

If the letter came late, you'd somehow have to claw back all the money owed which you'd given to charity

Better to have a prompt notification, surely?

I really believe in the tax system of distributing wealth a bit but it fucking stings to see how much tax I pay

However, gotta say “family meeting”. Bleugh. 😷

@Palsy. I think the OP 's wish is that they be given a complete pass on the increased tax rate for the month.

@thistimelastweek Oh I see.

Nope, still don't get it.

Thanks for letting us know what a good person you are OP by mentioning the extra support you will be giving to charities.

I’m really glad you included that detail, it is very important.

Yup, giving to charity gives a nice warm fuzzy feeling that's
lacking when paying our dues.

That taxman is ruthless.

Nowhere near retirement but I won't check my pay check if I know I have a bonus or overtime coming that will push me into a new bracket (even though I know it's generally well spent and necessary).

Can't be arsed to feel sorry for anyone with a FS pension moaning about tax. Try working in the public sector where pensions are averaged out across career (thus disproportionately buggering women who've taken time out/reduced hours for care commitments) and can't be claimed until we are eligible for state pension (67 in my case).

I may be being very stupid, but why is the tax code different now he's not working?

He is working. He's cashed in his pension and continuing to work so the 'double bubble' is the combined amount which attracts a higher rate. (He might also be saving on superannuation contributons.)

Ah OK, so he's paying more tax because he's bringing more money in? And this seems objectionable to some people?

To be fair, the OP is only begrudging one month at the higher amount.

@thistimelastweek

To be fair, the OP is only begrudging one month at the higher amount.

Why?

Humble brag alert

Why? To enjoy a bit of largesse I think. Nothing greedy like keeping it.

@EmmaGrundyForPM

Can't be arsed to feel sorry for anyone with a FS pension moaning about tax. Try working in the public sector where pensions are averaged out across career (thus disproportionately buggering women who've taken time out/reduced hours for care commitments) and can't be claimed until we are eligible for state pension (67 in my case).

Are there still FS pensions though or have they mostly been changed to career average?

I still call mine a FS but the reality is, it’s a defined benefit with about four different rates over the years depending upon when each scheme was dropped in favour of a worse one.

Oh and with maternity and some reduced hours for child care thrown into the mix

Can you not claim yours before 67? I can but obviously the final figure is reduced to take the early payment into account?

We can also still give notice 12 months in advance and claim our pension and work for 12 months max but I don’t see the point tbh, for the very reason that you pay too much tax.

[quote thistimelastweek]@Palsy. I think the OP 's wish is that they be given a complete pass on the increased tax rate for the month.[/quote]
Not at all, just would have liked to have seen the pension sum in the bank and then receive the letter, we have no issue with paying tax.