PPRuNe Forums - View Single Post - Taxation ...and the taxman....
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Old 12th Nov 2010, 21:59
  #36 (permalink)  
dogle
 
Join Date: Feb 2010
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The point has been made many times in these pages that automation is all very fine save when it keeps you in the dark and, if you have failed to maintain your hand skills, drops you deep in the dark Brown stuff when it screws up. The very simple hand calculation shown on p.TRG24 of the UK Tax Return Guide gives, within its stated limitations, a good, quick and easy feel for your tax situation; better still, it helps to demystify the whole business if you are fearful of, or unaccustomed to, doing your own tax calculations.

For the few folk with pensions originating overseas, remember that you pay tax only on 90% of the income...
Top marks, GemDeveloper, and thanks! ( I'm looking forward to joining that few ).

Given the membership of this forum, it may be a biggish few ..... so for quite a good synopsis of UK wrinkles for us 'migrants' of various sorts:-

Tax on overseas income : Directgov - Money, tax and benefits

and for HMRCs nitty-gritty on pensions inbound from foreign:-


Another pensions matter - if a pension award is delayed or backdated across a UK tax year end you may insist on being taxed on it on the 'accruing' basis, i.e. when you were entitled to it, rather than when it finally arrived. This can save a packet for someone who has e.g. landed a retirement job in the tax year when the delayed payment is made:-

Amount of pension income charged to tax
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