Home Work & Volunteering
At The Mix, we want to make our services as helpful as we can. To do this, we’d love to ask you a few questions about you, your visit to The Mix and its impact. It should take only about 5-10 minutes to complete. Take this survey and get a chance at winning a £200 Amazon voucher​.
Come and join our Support Circle, every Tuesday, 8 - 9:30pm! Sign up here
Read the community guidelines before posting ✨

How much tax per year

Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
my tax code is 522L and i earn 11,194 a year before tax.
do they take 5,220 off that total and only tax me 22% on the remamining 5k?

Comments

  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    I think so.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    http://www.freelanceuk.com/money/paye_calculator.php

    tell you how much tax you should pay
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Until April there's a 10% income tax band too, up to about £10,000 if memory serves me right.

    After April the 10% band is being abolished and the normal rate will be 20%.
  • C FunkC Funk ********* Posts: 163 Settling in
    Hey PRETTYgreenEYES,

    For the 2007/8 tax year your basic personal allowance (or tax-free amount) is £5,225, after that you're taxed at the following rates:

    £1 - £2,230 at 10%;
    £2,231 - £34,600 at 22%;
    Over £34,601 at 40%.

    Have a look at our article on income tax to find out a bit more about it.

    Hope this helps

    :thumb:
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    C Funk wrote: »
    For the 2007/8 tax year your basic personal allowance (or tax-free amount) is £5,225, after that you're taxed at the following rates:

    £1 - £2,230 at 10%;
    £2,231 - £34,600 at 22%;
    Over £34,601 at 40%.

    Have a look at our article on income tax to find out a bit more about it.

    :yes:

    AFAIK The 10% tax band isnt being completly abolished from April, but the cases it can be used are few and far between.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    :mad: i hate tax
    someone had to say it. lol
Sign In or Register to comment.