How much can you earn before...

dcclanuk

£9600 capital gains allowance, then £18% tax after that.

^^ This was for 2008/09, I don't know if it has changed since:D

Mobeer

scrattox wrote: »

.. The "mean" (add up all the salaries and divide by the number of earners) is less reliable because a small number of very large earners can skew the figure...

Note a lot of the values quoted in this thread are based upon employees on Pay As You Earn taxes only. This then excludes lots of the higher earners, which makes the mean lower than it should be.

tiggert

In the list I see:
"£58,000... the max family earnings to still be eligible for benefits (kids aged over 1)"
But this doesn't apply to the child benefit does it?
I don't see anything under the direct.gov.uk sections about child benefit (I had the direct links but the forum won't allow me to put them here as I'm a new user) saying anything about family earnings.

Thanks,
T.

sammyjammy

Child benefit is not means tested, everybody gets it whether they earn 0p or £150,000,000,000,000,000 and have eligible children (0- 19 if in full time non-teritary education)

Hazeydaze_2

I think you will find the threshold is actually £37,400 anything above this is taxable at 40%. :money:

Hazeydaze_2

johntriguy wrote: »

sorry just to clarify, i dont earn more than 43K. but i do earn over 37,400 some years and i alway get hit for 40% tax, last year it was at about 33, or 34K they started to hit me, this nyear it has gone up to 37,400.

But if Martin is correct and it should be earning over 43K......the tax man owes me some money!

He is not correct!! How it works is, you have an allowance of £6475 per year this is not taxed, anything between this & £37,400 is taxed at 20% & anything over £37,400 is taxed at 40%.

I hope this clears this up!!!

Hazeydaze_2

MSE_Dan wrote: »

As a clarification on the higher rate tax point, the people saying £43,875 are correct

it is broken down like this

This table used in a previous post by MSE Dan is completly incorrect, please see my previous post. I am currently studying Taxation as part of my Accountancy Degree & can assure you the threshold is £37,400 anything over this is taxed at 40%.

:money::rotfl:

Any

Hazeydaze wrote: »

This table used in a previous post by MSE Dan is completly incorrect, please see my previous post. I am currently studying Taxation as part of my Accountancy Degree & can assure you the threshold is £37,400 anything over this is taxed at 40%.

:money::rotfl:

What ever you do, do not take exams in it yet!!
Because you have no idea what are you talking about.
Go back to your books and have a look at the subject again..