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Income Tax Confusion . . . . .
The_Salad
Posts: 118 Forumite
in Cutting tax
I am taxed at source by my employer (26 years) and still confused how my income tax is calculated. Could someone tell me if this is correct :
- £7475 - Is my personal allowance, income tax free.
- £7476 - £42475 is taxed at 20% (based on next £35k earned being taxed at 20%)
- £42475 + at 40%
- (I don't earn in to 50% bracket)
0
Comments
-
Yes, for 2011/2012 tax year.Who having known the diamond will concern himself with glass?
Rudyard Kipling0 -
yes that's correct
but do bear in mind that if you pay into a pension scheme than that is tax free
and if you have any benefits in kind (company car medical insurance etc) then this will be subject to taxEU tariff on agricultual product 12.2%
some dairy products 42.1% cloths 11.4%
EU Clinical Trials Directive stops medical advances0 -
Thanks both !!0
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