Smart_Guy
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Do I ever? 
Expensive week!
- Thread starter strollin
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Ahhh, the joys of the UKs Pay as you earn tax system...
rather than having to "save up" for my income tax, they just take it away from me in small amounts.
still being taxed about £550 a month every month means that I've paid that same $10,000 (ten thousand dollars = six and a half grand UK) just in income tax... (and yet barely even notice it because it's taken out of my pay before I see it...)
rather than having to "save up" for my income tax, they just take it away from me in small amounts.
still being taxed about £550 a month every month means that I've paid that same $10,000 (ten thousand dollars = six and a half grand UK) just in income tax... (and yet barely even notice it because it's taken out of my pay before I see it...)
Yeah, in the US we have taxes taken from our paychecks as well. Most people have too much taken out so at the end of the year they've overpaid and then get a refund. That means you lent money to the government for free.
In my case, not enough was taken out even though over $1K per month was taken from my paycheck. This happened because I had additional income that wasn't subject to withholding tax so had to pay the tax on that income.
Of course not all of that $10K went for income tax, a good chunk (40%) went to pay property taxes. Do you guys pay property taxes in the UK?
What made it such an expensive week wasn't any individual bill I had to pay but the fact that all of these came due within the same week.
In my case, not enough was taken out even though over $1K per month was taken from my paycheck. This happened because I had additional income that wasn't subject to withholding tax so had to pay the tax on that income.
Of course not all of that $10K went for income tax, a good chunk (40%) went to pay property taxes. Do you guys pay property taxes in the UK?
What made it such an expensive week wasn't any individual bill I had to pay but the fact that all of these came due within the same week.
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I'm not entirely sure what you mean by property taxes?
do you mean like a payment to the local municipality based on the size of your house?
to pay for stuff like local road repairs, refuse collection municipal parks etc?
Getting told that you didn't pay enough rather sucks though!!
do you mean like a payment to the local municipality based on the size of your house?
to pay for stuff like local road repairs, refuse collection municipal parks etc?
Getting told that you didn't pay enough rather sucks though!!
Thankfully my property taxes are part of my escrow. Eventually I will be responsible for the taxes on my property as well as my mom's (belonged to both of my parents but my dad passed away about 5 years ago)... my folks signed it over to me several years ago to make the changing of hands far enough away that in the case they should have to go into a nursing home the state couldn't take the property.
