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Can I still get a rebate if I earn over the personal tax-free allowance of £5,435?
azzaelectro
Posts: 20 Forumite
in Cutting tax
Hello,
I just started work this week, my first job this tax year April 2008-March 2009.
I was just wondering what happens if I go over the personal tax-free allowance of £5,435? but someone told me it was £6000.
Should I be trying to aim to earn below this amount so I can get a full rebate back on the money I have earned this year and next......but what happens if earn just over this, would then this make the rebate void and I wouldn't get a rebate or would I just pay tax on the amount of money I go over on?
Sorry but I'm a bit thick when it comes to things like this?
Any help would be greatly appreachiated,
AzzA
I just started work this week, my first job this tax year April 2008-March 2009.
I was just wondering what happens if I go over the personal tax-free allowance of £5,435? but someone told me it was £6000.
Should I be trying to aim to earn below this amount so I can get a full rebate back on the money I have earned this year and next......but what happens if earn just over this, would then this make the rebate void and I wouldn't get a rebate or would I just pay tax on the amount of money I go over on?
Sorry but I'm a bit thick when it comes to things like this?
Any help would be greatly appreachiated,
AzzA
0
Comments
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The tax free allowance for this year is £6035. Anything you earn over that up to £36k will be taxed at 20%. You wont get a rebate if you have not paid any tax, but the benefit of the higher tax alloance is already in your code number, which should be 603L.£705,000 raised by client groups in the past 18 mths :beer:0
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Can you explain what 'rebate' you are talking about?I am an Accountant. You should note that this site doesn't check my status as an Accountant.All posts on here are for information and discussion purposes only and should not be seen as professional advice.0
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