TAX

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Questions for the current tax year 03/04<BR><BR>What is the Personnel allowance ?<BR>What is the lower band (10%)?<BR>What is the higher band (22%)?<BR><BR>Any advice is helpfull.<BR>Thanks

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    TAX

    Personal allowance is £4,745<BR>Lower band is up to the next £2,020<BR>Basic band is up to the next £29,380<BR>Higher band is anything over<BR><BR>Scott.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    TAX

    Scott - taking into account your awnsers could you please awnser this -<BR> gross salary £30,000<BR> whats the pay after tax??<BR>Thanks<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    TAX

    Gross pay £30,000 less personal allowance (£4,745)= £25,255<BR><BR>£2,020 @ 10% = £202<BR>£23,235 @ 22% = £5,112<BR>Total tax liability = £5,314<BR><BR>Scott. <BR><BR>P.S. These figures are for the current tax year.

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