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    • emmy05
    • By emmy05 20th Mar 17, 9:01 PM
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    emmy05
    Does anyone know?
    • #1
    • 20th Mar 17, 9:01 PM
    Does anyone know? 20th Mar 17 at 9:01 PM
    What tax will be paid, for a 22 yr old single person, starting work on 1st Feb, til end of 2017? I'm getting myself all muddled. Does it go Feb to April for tax year? Or does it go for the whole year? So sorry lol.

Page 1
    • dori2o
    • By dori2o 20th Mar 17, 9:35 PM
    • 7,179 Posts
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    dori2o
    • #2
    • 20th Mar 17, 9:35 PM
    • #2
    • 20th Mar 17, 9:35 PM
    Tax year runs 6th April one year to 5th April of the next.

    As to how much tax will be paid it depends entirely on how much will be earned in those 2 tax years.
    To equate judgement and wisdom with occupation is at best . . . insulting.
    • McKneff
    • By McKneff 20th Mar 17, 10:12 PM
    • 35,226 Posts
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    McKneff
    • #3
    • 20th Mar 17, 10:12 PM
    • #3
    • 20th Mar 17, 10:12 PM
    Tax year is april 16 to March 17. If you havent been working you will very likely pay no tax

    April 17 is a new tax year so wvery thing starts from scratch and it depends on your earnigs as to how much tax and NI you pay
    No one can make you feel inferior without your consent
    • emmy05
    • By emmy05 20th Mar 17, 10:43 PM
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    emmy05
    • #4
    • 20th Mar 17, 10:43 PM
    • #4
    • 20th Mar 17, 10:43 PM
    Oh sorry, the wage is 14,500 per year.

    • eggha
    • By eggha 20th Mar 17, 11:07 PM
    • 223 Posts
    • 178 Thanks
    eggha
    • #5
    • 20th Mar 17, 11:07 PM
    • #5
    • 20th Mar 17, 11:07 PM
    Oh sorry, the wage is 14,500 per year.
    Originally posted by emmy05
    so between Feb 17 - 5th April 17 that is 2 pay months in the tax year 16/17 and he will (assuming paid monthly?) earn 14,500/12 x 2 = 2,416
    if that is the first time he has done any work in 16/17 then he will pay zero tax in each month since he has his tax free allowance (£11,000 for 15/16) which more than covers that total income assuming he has been given a tax code

    for Feb 17 - Dec 17 that is tax year 17/18 and everything starts again from zero. His personal allowance is 11,500 but is given in monthly instalments (11,500/12 = 958 per month). He earns 1208 per month so will be taxed on approximately 250 per pay month (1208-958) assuming he earns the same each month and has no other income. £250 @ 20% tax = about £50 per month in income tax, the exact figure will be a tad more due to the exact calculation.

    There are many online tax calculators if he wants to see the figures himself

    national insurance works slightly differently - again an online calculator will give him an answer
    Last edited by eggha; 21-03-2017 at 11:41 AM.
    • McKneff
    • By McKneff 20th Mar 17, 11:11 PM
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    McKneff
    • #6
    • 20th Mar 17, 11:11 PM
    • #6
    • 20th Mar 17, 11:11 PM
    NI is about 12.5 per cent of gross monthly income i believe
    No one can make you feel inferior without your consent
    • emmy05
    • By emmy05 20th Mar 17, 11:26 PM
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    emmy05
    • #7
    • 20th Mar 17, 11:26 PM
    • #7
    • 20th Mar 17, 11:26 PM
    Thank you so very much, I really appreciate it.

    • chrisbur
    • By chrisbur 21st Mar 17, 12:32 AM
    • 2,701 Posts
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    chrisbur
    • #8
    • 21st Mar 17, 12:32 AM
    • #8
    • 21st Mar 17, 12:32 AM
    NI is about 12.5 per cent of gross monthly income i believe
    Originally posted by McKneff
    Current rates are nothing payable below £672 a month, then 12% on earnings between £672 and £3583 a month and 2% on earnings over £3583.
    Next year the £672 and £3583 become £680 and £3750.
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