We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Taxation Query
fatpig_2
Posts: 631 Forumite
hi, I got the info below from the HMRC website. I am a single person aged under 65. Am I right is saying that for this tax year 2008/2009 I have to earn more than £40,835 ( i.e. £6,035 + £34, 800) before I have to worry about paying higher-rate tax? cheers for any help
Higher rate: 40%* Over £34,800
Income tax allowances Personal allowance
2007-08 (£) 5,225
2008-09 (£) 6,035
Income Tax: taxable bands 2008-09
Higher rate: 40%* Over £34,800
0
Comments
-
Yes you are correct. Although do remember that taxable income includes gross interest from savings and dividends so you must include them too.0
-
Don't forget to ignore ISA income though.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards