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P60.. working out my tax...
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K9cuddles
Posts: 2,202 Forumite
in Cutting tax
I've just got my P60 and was double checking i!!!..... my salary for last year was £20,705.90 so I paid £3,226.52 in tax. I was just checking this, but I work it out as I should of paid £3,018.20 in tax.
£20,705.90-£4,895(personal allowance)-£2090 (10% lower tax band) = £13,720.90 to be taxed at 22% = £3,018.20.
Are my workings out right??
£20,705.90-£4,895(personal allowance)-£2090 (10% lower tax band) = £13,720.90 to be taxed at 22% = £3,018.20.
Are my workings out right??
Official DFW Nerd Club - Member no. 092
::£2 - CSC - Terramundi is filling up!! :: Joined 3/3/06 :: 5/2/07 - 835kg + £280 Banked!!::
::5p,10p & 20p - Savings Tin :: Founded 9/4/06 :: 23/3/07 - 3.2kg ::
Lost to date - 9kg (22/8/06) Next weigh in 2007!!
::£2 - CSC - Terramundi is filling up!! :: Joined 3/3/06 :: 5/2/07 - 835kg + £280 Banked!!::
::5p,10p & 20p - Savings Tin :: Founded 9/4/06 :: 23/3/07 - 3.2kg ::
Lost to date - 9kg (22/8/06) Next weigh in 2007!!
0
Comments
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You forgot to include the 10% tax on the £2090:
£209 + £3,018.60 = £3,227.60, so your P60 is correct.0 -
ahhhhhhh.. thanks!!I couldn't see for looking!!Official DFW Nerd Club - Member no. 092
::£2 - CSC - Terramundi is filling up!! :: Joined 3/3/06 :: 5/2/07 - 835kg + £280 Banked!!::
::5p,10p & 20p - Savings Tin :: Founded 9/4/06 :: 23/3/07 - 3.2kg ::
Lost to date - 9kg (22/8/06) Next weigh in 2007!!0 -
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