O noooo TAX :(
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HAS anyone out there got any good notes, ways of leanring tax etc...
it confuses me along with NIC
if you have pleas eplease please send them to me
o0o_cheeky_gyalo0o@hotmail.com
much appreciate have my modular on it in february :roll:
it confuses me along with NIC
if you have pleas eplease please send them to me
o0o_cheeky_gyalo0o@hotmail.com
much appreciate have my modular on it in february :roll:
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Comments
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Re:O noooo TAX
If any body has i wouldn't mind a look at them as well.
nicola@stevensdumptruckhire.com0 -
Re:O noooo TAX
Hi
What is it you are struggling with.
Regards
Michelle
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Re:O noooo TAX
ok me aswell pleeeeeeaaase
lydiawalker1405@hotmail.com
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Re:O noooo TAX
What module are you doing concerning tax at foundation level?
There are no tax units until Tech level.
How about speaking to someone in your payroll department and asking them to give you some advice? Or look around on the internet?
PP22 :-)0 -
Re:O noooo TAX
Hi
To work out tax from employment:
Gross Income received in the tax year (06/04/05 - 05/04/06)
plus any benefits in kind
Less Personal Allowances (from tax Code given by Inland Revenue)
=Income Liable to be taxed on.
The tax is calculated by:
£0 - £2090 taxed at 10%
£2091 - £32400taxed at 22%
over £32400 taxed at 40%
based on 2005/06 tax bands.
When working out paye where an employer deducts tax at source ie before you recieve your money. A proportion of the personal allowance is is made available as a tax allowance each time the employee gets paid whether it be weekly, fortnightly or monthly and this is deducted from the gross paye for that week or month before tax is calculated on the remainder.
Hope this is the sort of thing you were after. This is general because everyone has different circumstances to take into account.
Not too hot on NIC contributions but I know someone has posted about them on one of the forums before or look at the HRMC website for more info.
Regards
Michelle
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