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Golden Hello (English NQT) - when is it paid and how much after tax??

Discussion in 'New teachers' started by genb79, Feb 20, 2008.

  1. genb79

    genb79 New commenter

    I'm half way through my NQT year (English teacher) and I would like to know when the Golden Hello is paid, and how much I'm likely to get after tax (as I've been told it is paid in with your salary and so therefore is taxed to bits).
    I'm looking forward to it!!
  2. genb79

    genb79 New commenter

    I'm half way through my NQT year (English teacher) and I would like to know when the Golden Hello is paid, and how much I'm likely to get after tax (as I've been told it is paid in with your salary and so therefore is taxed to bits).
    I'm looking forward to it!!
  3. first term in second year
  4. depends on your school and how efficient you are. It could be August
  5. I know this won't completely help, but may shed some light on the how much part of your post. Maths teachers get a £5000 golden hello and after tax and student loan have been taken off it you generally end up with about £3200. BUT you should be able to claim a small amount of the tax back at the end of the year because, for that month you will have been viewed as having an excellent paying job and then in the April they will either realise, or you'll have to tell them, that you are actually paid a **** wage for what you do so you want some of the tax back. Oh and don't forget you'll get NI'd on that too which you can't claim any back on.

    hope this helps even if only a little.

    Oh, if you start in sept 07 you SHOULD get your golden hello around november 2008.
  6. jubilee

    jubilee Star commenter

    You misunderstand the PAYE tax system, mathsiscool.

    There is unlikely to be any tax refund due at the end of the tax year as a f/t teacher easily earns enough each month (without the Golden hello) to use up the allocated monthly tax free allowance and the monthly allocation of earnings that only gets taxed at 10%.

    Any further earnings will simply be subject to THE USUAL PAYROLL DEDUCTIONS, WHICH WILL INCLUDE TAX AT 22%, National Insurance and Student Loan repayments (if applicable).

    If the recipient leaves teaching a the end of the calendar year and does not get other work in the remainder of the tax year, they would be entitled to a tax refund as they wouldn't have used up their tax free allowances (and 10% tax band) for the last 3 months of the tax year.
    Staying in work with PAYE means that most people's tax situation is up-to-date on a monthly basis.

    Adjustments will be made if you then claim any tax relief that you have omitted to claim in the past (you can back claim for 6 years)- those include GTC fee, Union Subscriptions, necessary memberships of Professional bodies etc.

    Your tax situation also needs reviewing officially every year if you have other sources of income.
  7. REALLY?

    So when one pay gets paid at £4400 after tax, NI, Student loan etc (golden hello plus wages month) you won't have paid ANY extra tax at all? or the "system" automatically sorts everything out for you for the next month so you pay less tax each month until the April?

    Or can people just randomly get paid £4400 for one month's pay and they won't have overpaid any tax at all? Because I'm sure, but correct me if i'm wrong, that being paid £4400 for one month pushes you over the £40,000 per year for that month where you would need to pay more tax. Also they don't employ people to sort out golden hello tax in all areas of the UK.

    am i just being silly and not trusting the people that organise tax etc? Does everyone else here completely trust and have faith in the tax man getting it "right"?

    You cannot assume that the system works right for everyone, because different places play by different rules, i am just giving one perspective of what has happened to people i know.
  8. landaise

    landaise Occasional commenter

    Tax is calculated annually, not monthly so it should balance out. To be sure you can send in your P60 at the end of the tax year and ask them to check how much you've paid. General consensus is that out of £4000 you will receive £2400 after tax, etc. Not to be sneezed at, some people don't get it at all!
  9. if you have the correct tax code (and are not being paid on a 'month one' basis, which is unlikely) then the tax tables for april used by your employers will ensure that the total tax paid for the year is correct
  10. mathsiscool, I was under exactly the same impression as you....

    ... but I've investigated, and we are not due any rebates at the end of the tax year (ie next month). We paid the right amount of tax for the year, at the time, and that's that.

  11. nqt04

    nqt04 New commenter

    Yes, that?s correct, because the PAYE system works on a cumulative basis. mathsiscool wrote ?they don't employ people to sort out golden hello tax in all areas of the UK?, but it?s employers who are unpaid tax collectors for HMRC ? using an employee?s tax code (that each employee negotiates with HMRC), employers calculate tax on the basis of tax tables that ensure that as many people as possible pay the correct amount of tax & NI on a month by month basis.

    Anyone who thinks they?ve paid too much tax at the end of the year just needs to contact the Tax Office where their records are kept to ask for a calculation, or fill in a tax return.

  12. Question re: golden hellos.

    I am aware that you are supposed to get a form from your ITT provider which is then signed by all and sundry, sent off etc, then you can claim.

    However, i have received no such form. My concern now is having to go back to the uni and ask for a form, hoping they arent funny about it.
    Did everyone else receive this form and a clear explanation of what was required?
  13. further to original question...
    How much is English Golden Hello? Is it £3000 before tax? Making just short of £2000 after tax. About right?
    If I started my NQT year after Christmas, will I be looking to get Golden Hello at about this time next year? I have a permanent job from September.
  14. grrrrrrrreat

    grrrrrrrreat New commenter

    Just got the English golden hello... it comes down to about £1400 ... - almost not worth the effort - hardly close to the £2500 really is it? Hmmmmm ... I knew it was taxed, but didn't know it got NI taken too - my total deductions for this month are pretty much my usual monthly salary: that's insane!!!

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