How much tax on this years pay please?

bootman

thank you everyone for you answers

chuckles1066

bootman wrote: »

Hi

I have 2 jobs and a tax code that is not split correctly. Before I get my P60's to send could a clever money saver tell me what tax I should have paid for 07/08

2 jobs added together £11541.48 for the year.

I get the wash own uniform allowance of £45 working from home allowance of £96 added to my tax code.

No other deductions or credits.

Many thanks

2007-08 you get the first £5225+£96 free (£5321)

So, that leaves £6220.48 taxable.

You pay 10% on the first £2230 (£223)
And then 22% on the remaining £3990.48 (£877.91)

So tax = £1100.91

LilacPixie

do you also get the basic personal allowance?

System

The basic personal allowance is £5225

So for Bootman he would have £5225 + £45 + £96 = £5366 tax free

and so

£11541.48 - £5366 = £6175.48 taxable income

the first £2230 is taxable at 10% = £223

and the rest £3945.48 is taxable at 22% = £868


Total tax due on £11541.48 is therefore £223 + £868 = £1091

bootman

yes I am basic rate tax payer I have a tax code on job 1 and BR on job 2.

bootman

Thank you everyone for your kind responses. Looks like the tax man owes me £100 this year :T

Many thanks

[Deleted User]

Hi,

here's the very wee gadget to work it out for you, if you want to know tax only, tick the I pay no NI box.

Red_Cat

That's a good link, thanks!