AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
|
tax tax tax.....
trying to work out how much tax i should get back this year....
What is the basic rate? upper rate? etc etc
Think im tax band 403L (rings a bell for some reason)
So i get 4030 tax free aye?
the next 25070 at 22/23% aye?
then above that at 30% aye?
is this correct or just mince?
Im not looking for a monthly tax % figure including NatIns etc etc
im using a fuuckin mobile, so i cannot search the web etc  so i would love it if some body told me the details
|
Jodi_the_g
Member
Registered: 7th Aug 01
Location: Washington D.C
User status: Offline
|
close adam
Personal allowance is £4745
then up to 31400 is 22%
then over 31400 is 40%
robbing bastards
|
Adam-CorsaC18s
Member
Registered: 7th Apr 03
Location: Royston, South Yorkshire
User status: Offline
|
unless your self employed!!
|
AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
|
the way i fudge it.... a working example if you will 
if made just under 39k.....
it'd be....
39,000 - 4030 = 34,970
34,970 - 30,000 = 4,970
so...
4030 at 0% = 0
30,000 at 22% = 6,600
4970 at 30% = 1491
6600 + 1492 + 0 = 8091
If i was to get all my tax back..... is that around the figure id expect?
adjust for figures above, as i just copied n pasted that from wordpad
|
Trotty
Member
Registered: 22nd Feb 01
Location: Bristol
User status: Offline
|
quote:
Originally posted by Adam Kindness
So i get 4030 tax free aye?
the next 25070 at 22/23% aye?
then above that at 30% aye?
is this correct or just mince?
Looks ok to me, not deffo sure about the NI contributions bit though
|
AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
|
Personal allowance is £4745
then up to 31400 is 22%
then over 31400 is 40%
so......
39,000 - 4745 = 34225
34225 - 31400 = 2855
so
2855 at 40% = 1142
31400 at 22% = 6908
= 8050 ??
***********************************************************
OR is the allowance part of the 31400 limit?
so it would be
4745 at 0%
26655 at 22% = 5864
7600 at 40% = 3040
= 8904 ????
i really should read these tax slip thingy ma jiggers
|
AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
|
think im tax band 474L by the way... it rings bell too...
|
Adam-CorsaC18s
Member
Registered: 7th Apr 03
Location: Royston, South Yorkshire
User status: Offline
|
I think its:
Annual Salary - Tax Free Allowance
Then charged at the percentage for your earnings outright.
So instead of getting charged a portion at 22% and a portion at 40%, I think you'll just get charged 40%.
Did I read somewhere that Donna is an accountant?
Might be best u2u'in her.
But post back to tell us cause I wouldnt mind knowing myself.
|
AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
|
that cant be right...
if i eard 1p over the limit id be alot worse off then someone 1p under the limit
|
Adam
Member
Registered: 1st May 01
Location: Hurstbourne Tarrant
User status: Offline
|
quote:
Originally posted by Adam-CorsaC18s
Might be best u2u'in her.
She doesn't have an account on here any more
|
Demo
Member
Registered: 27th Sep 01
Location: south wales Drives: astra sri ecoflex
User status: Offline
|
wtf?
|
AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
|
wtf what?
|
barry_kellett99
Member
Registered: 19th May 03
User status: Offline
|
Try ringing these people ->here<-
|
Dan B
Member
Registered: 25th Feb 01
User status: Offline
|
The way I see it:
Annually
Gross Income: £39,000.00
Tax-Free Allowance: £4,745.00
Taxable Amount: £34,255.00
Tax: £7,807.60
National Insurance: £3,041.48
Net Take-Home: £28,150.92
[Edited on 10/06/2004 by Dan B]
[Edited on 10/06/2004 by Dan B]
|
Dan B
Member
Registered: 25th Feb 01
User status: Offline
|
The first £2,020 of your taxable income is taxed at 10%.
The next £29,379 is taxed at 22%.
Any further earnings are taxed at 40%.
|
TNM
Member
Registered: 5th Apr 04
Location: Nottingham Drives: VW Tiguan
User status: Offline
|
what ever way you look at it they are robbing bastids!
|
M2RTY
Member
Registered: 25th May 01
User status: Offline
|
quote:
Originally posted by Dan B
The first £2,020 of your taxable income is taxed at 10%.
The next £29,379 is taxed at 22%.
Any further earnings are taxed at 40%.
sounds best so far
|
Dan B
Member
Registered: 25th Feb 01
User status: Offline
|
0% of £4,745 = £0
10% of £2,020 = £202 (£39,000 - £4,745 = £34,255 > £2,020)
22% of £29,379 = £6,463.38 (£39,000 - £4,745 - £2,020 = £32,235 > £29,379)
40% of £2,856 = £1,142.40
Total = £202 + £6,463.38 + £1,142.40 = £7,807.78
Only 18p out, not bad!
|
Dan B
Member
Registered: 25th Feb 01
User status: Offline
|
Oh, and national insurance contributions, if you need those, should be:
Pay Per Week ... National Insurance Rate
First £91 ... NIL
Salary over £91 and under £610 ... 11%
Salary over £610 ... 1%
So, for Adam's £39,000, that converts to £750 per week, and so:
0% of £91 = £0
11% of £519 = £57.09 (£610 - £91 = £519)
1% of £140 = £1.40
Total = £58.49 per week, which equates to £3,041.48 per year or £253.46 per month
[Edited on 10/06/2004 by Dan B]
|
AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
|
right..... i'll try get my head round your three diff answers 
|
GT4Brody
Member
Registered: 26th Sep 01
Location: south
User status: Offline
|
 i thought that anything over 40k was super tax?? eg higher tax band?
|
