📨 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!

HMRC shows £0 tax free in my statement - that sound right?

Options
Hi,

First time I've ever looked at my annual tax breakdown online and seen this field. Wouldn't this be the national tax-free allowance e.g. £12,570, or am I mis-reading this field?

Comments

  • DE_612183
    DE_612183 Posts: 3,811 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Yes, I'd expect that to be £12k - how much did you earn in that tax year?
  • MattMattMattUK
    MattMattMattUK Posts: 11,219 Forumite
    10,000 Posts Fourth Anniversary Name Dropper
    Hi,

    First time I've ever looked at my annual tax breakdown online and seen this field. Wouldn't this be the national tax-free allowance e.g. £12,570, or am I mis-reading this field?

    How much did you earn in 22/23?
  • proformance
    proformance Posts: 345 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    DE_612183 said:
    Yes, I'd expect that to be £12k - how much did you earn in that tax year?
    141k according to HMRC
  • DE_612183
    DE_612183 Posts: 3,811 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    after a certain point in income ( over £100k I think ) the tax free allowance starts dropping - there is a point ( not sure ) when the reduction wipes out any tax free allowance - I presume you've crossed this point.
  • MattMattMattUK
    MattMattMattUK Posts: 11,219 Forumite
    10,000 Posts Fourth Anniversary Name Dropper
    DE_612183 said:
    Yes, I'd expect that to be £12k - how much did you earn in that tax year?
    141k according to HMRC
    https://www.gov.uk/income-tax-rates/income-over-100000
  • proformance
    proformance Posts: 345 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    DE_612183 said:
    after a certain point in income ( over £100k I think ) the tax free allowance starts dropping - there is a point ( not sure ) when the reduction wipes out any tax free allowance - I presume you've crossed this point.
    I see. Yes, just read that. It was my belief that everyone got a tax free allowance. 
    Question answered. thanks :) 
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.