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confused about threshold and higher tax

Discussion in 'Professional development' started by tdnorth, Jul 9, 2011.

  1. tdnorth

    tdnorth New commenter

    Hi..I've been on MP6 for 3 years and now have TLR1 and SEN2..am thinking of applying for threshold but have been told by colleagues that if my pay touches £40,000 (which it might...just) that I will pay so much more tax that my take home amount will be considerably less than it is now. Seems a bit insane...anyone know if this is right? Thanks
     
  2. DM

    DM New commenter

    The person who gave you this information is an idiot. You need to earn &pound;42,476 before you enter the 40% tax band and even then you only pay it on the amount you earn <u>above</u> this limit.

     
  3. becktonboy

    becktonboy New commenter

    bit OTT, how about just wrong?
     
  4. DM

    DM New commenter

    No I'll stick with idiot beckton.
    The OP, on the other hand, is not an idiot as he or she had the gumption to realise that it was highly improbable that the advice provided was correct. It really is depressing that so many otherwise intelligent adults are too busy/lazy to give up five minutes to make sure they understand how income tax is calculated. More worryingly, these are some of the people who are responsible for the Economic Wellbeing and Financial Capability education of the next generation.
     
  5. Middlemarch

    Middlemarch Star commenter

    There's at least one other thread about this. It seems odd that whoever is putting this nonsense about would realise that if it were true, no-one would ever seek promotion, since it would always result in a drop in pay if their theory were correct.
     
  6. becktonboy

    becktonboy New commenter

    good point
    also a good point
    ..... but then if we cruise these forums we find people asking about many seemingly straightforward or obvious issues, usually covered in government or union advice, so maybe we shouldn't be too surprised?
    Perhaps any depression should be aimed at those heads who let their staff languish in ignorance, or misinform them - even if their motives are pure and they are merely ignorant or lazy themselves. After all many teachers have tended to rely on their heads as an authority figure to be trusted. I did for many years and had a very rude awakening. Isn't doing your best for your staff part of the job too?

     
  7. DM

    DM New commenter

    My Headteacher phones me every morning to remind me to put my trousers on and brush my teeth beckton. He takes his "authority figure" role very seriously.
     
  8. becktonboy

    becktonboy New commenter

    if I'd thought of that I wouldn't have that pesky court order .....
     
  9. Middlemarch

    Middlemarch Star commenter

    I'm sorry, BB, but it isn't the head's job to instruct the staff in basic, very simple economic awareness.
    What next? Reminding people every morning during briefing not to run with scissors?
     
  10. becktonboy

    becktonboy New commenter

    Point taken where personal tax is concerned MM, but heads also tell
    staff some incredible porkie pies: UPS1+ brings extra responsibility,
    you have to spend 2 years on M6 before you can get UPS1, you can't
    resign a TLR, you have to do extra work in this school because we are
    small/underfunded and can't afford TLRs etc etc etc
    Of course any employee should take responsibility for their own affairs
    but if you actually read my post I wasn't advocating heads becoming
    personal financial consultants, just lamenting the culture which I
    perceive to have evolved in which teachers not only don't take enough care over these issues but in which they are fed rubbish and swallow
    it ....
     
  11. Middlemarch

    Middlemarch Star commenter

    I take your point about the porky pies.
     
  12. We've just had guidance on minimising distraction (by teachers) and maximising pupil focus on the learning for the lesson so nothing would surprise me
     

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