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40% tax Threshold query
Brian_Rudd
Posts: 2 Newbie
in Cutting tax
Hello all
Can anyone explain why on Martins mail today the 40% tax threshold is stated as £43,875
When Government sites state £37,400
Am I missing something ?
Any explanations helpful.
Can anyone explain why on Martins mail today the 40% tax threshold is stated as £43,875
When Government sites state £37,400
Am I missing something ?
Any explanations helpful.
0
Comments
-
Personal allowance
ETA: this is £6,475.0 -
First you get personal allowance - which changes every year - for this year is £6475 and that is TAX FREE.
The next £37400 is taxed at 20%.
Anything over that (6475+37400) is taxed at 40%.0 -
Thanks for the explanations. I was calculating wrong I presume.
much appreciated0
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