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Author Job
strick206
Member
Registered: 12th Apr 07
Location: Wigan Drives:Integra DC5
User status: Offline
20th Apr 07 at 22:08   View User's Profile U2U Member Reply With Quote
i was going to mention that, but i didnt know the figure it was that you earn tax free,

doesnt everyone earn there first £4600 tax free? but if youve got the above tax code, you get more
CorsAsh
Member
Registered: 19th Apr 02
Location: Munich
User status: Offline
20th Apr 07 at 22:12   View User's Profile U2U Member Reply With Quote
Depends on your code. If you're on BR for example you get less allowance IIRC.
Sam
Moderator
Premium Member

Registered: 24th Dec 99
Location: West Midlands
User status: Offline
21st Apr 07 at 14:48   View User's Profile U2U Member Reply With Quote
This is how tax is worked out:

10% = £0-£2,150 of taxable income
22% = £2,151-£33,300
40% = £33,301 and above
corsa-sxi
Member
Registered: 11th Jul 03
Location: Kingston upon Hull
User status: Offline
21st Apr 07 at 15:19   View User's Profile U2U Member Reply With Quote
how about NI
Hammer
Member
Registered: 11th Feb 04
User status: Offline
21st Apr 07 at 16:14   View User's Profile U2U Member Reply With Quote
There are ways around paying the highest tax if you're earning around and about it, being paid by means of dividends for example.

You have to be careful and make sure its quarterly or yearly though so not to flag up on the revenues radar as a disguised salary.
baza31
Member
Registered: 19th Apr 03
Location: yorkshire
User status: Offline
21st Apr 07 at 18:03   View User's Profile U2U Member Reply With Quote
for some reason i have been paying basic rate for 6 months
CorsAsh
Member
Registered: 19th Apr 02
Location: Munich
User status: Offline
21st Apr 07 at 18:20   View User's Profile U2U Member Reply With Quote
Find out your proper rate, then get in touch with the Tax office to sort out a rebate

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