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!
P60.. working out my tax...
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
-
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 -
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards