Tax Bands

Darkstar

I have been able to find figures for 2008/9 20% tax allowance, £5,435, but can't find a figure for 40%. Is it out yet or do I have to wait till the budget.

CIS

Here you go - http://www.hmrc.gov.uk/rates/it.htm

jem16

Darkstar wrote: »

I have been able to find figures for 2008/9 20% tax allowance, £5,435, but can't find a figure for 40%. Is it out yet or do I have to wait till the budget.

The 40% band allowance hasn't been announced yet - usually happens in the budget.

Here you go - http://www.hmrc.gov.uk/rates/it.htm

That doesn't give the allowances for 2008/9.

CLAPTON

budget is on wednesday

Darkstar

Thanks, I thought I would have to wait till the budget.

My guess is it will be half way between the current, £34,600, and £43K, or the top level for NI planned for 2009/10. i.e £38,800

mitchaa

Darkstar wrote: »

Thanks, I thought I would have to wait till the budget.

My guess is it will be half way between the current, £34,600, and £43K, or the top level for NI planned for 2009/10. i.e £38,800

Ive seen provisional quotes of £36000 for the new tax year, so this will give a level of £41435 with the £5435 allowance

NI has already been announced at £770 pw for the 11% (£40040)

I believe the year later 2009/10 the 2 taxes will align and in effect be a 31% tax.

Will find out for sure what the levels are on wednesday in the budget announcement.