I might be starting work 1 day a week (i'm a mum!) and i would be earning £120 a month...anybody got any idea how much tax I would have to pay on that?
2006-10-31 01:05:28 · 5 answers · asked by Resolution 3 in Business & Finance ➔ Taxes ➔ United Kingdom
Hello,
It depends on whether you are getting paid weekly or monthly.
If you are getting paid weekly, then you can earn up to £97.00 without paying any tax.
If you are getting paid monthly, then you can earn up to £420.00 without paying any tax.
You may pay Emergency Tax when you first start, your earnings will be taxed 22% during this time. You should get back any emergency tax that is taken from your income a few months later (it should appear in your pay slip as a negative figure).
As long as you have no other jobs or taxable income which exceeds your personal allowance, you should not be taxed on income from this job.
To get further advice i recommend visiting HMRC's website at: http://www.hmrc.gov.uk or to talk to the payroll department of the company who will be employing you.
2006-10-31 05:02:04 · answer #1 · answered by Scott 2 · 0⤊ 0⤋
You should not have to pay any tax at all, although you will pay national insurance. The annual amount that you will earn will be about £1440.00.which is less than your free of tax personal allowance. If at first you do have any deducted, you can get a form from the inland revenue and you can claim it back.
2006-10-31 01:20:05 · answer #2 · answered by Social Science Lady 7 · 1⤊ 0⤋
you prob won't have to pay any tax on it. You should have a personal allowance of about £5035. This means you can earn up to this amount b4 u will be taxed.
However you may have to contribute national insurance which will reduce your pay but by a very small amount
2006-10-31 01:07:50 · answer #3 · answered by ligsy 2 · 2⤊ 0⤋
Well it would be whatever tax you pay on zero, because that is about how much 120 a month is worth.
2006-10-31 01:07:33 · answer #4 · answered by Anonymous · 0⤊ 1⤋
no tax. i earn £96.00 a week and just have to pay tax. plus you should get tax credit.
2006-10-31 01:19:55 · answer #5 · answered by Anonymous · 1⤊ 0⤋