I know you can earn a certain amount, after that you have to pay tax.
2007-02-28 03:01:49 · 13 answers · asked by emnie 2 in Business & Finance ➔ Taxes ➔ United Kingdom
Thank you :D
2007-02-28 03:07:35 · update #1
£5035 upto 5 April 07
£5225 upto 5 April 008
2007-02-28 08:34:06 · answer #1 · answered by Anonymous · 2⤊ 0⤋
For the current tax year (i.e. to 5 April 2008), all individuals can receive £5,225 per year before paying Income Tax. That includes earnings from work or unearning income such as bank interest or dividends. The key word is 'income'. It is wrong to use your tax code to answer this (as some have suggested), as tax codes are applied to earnings from a particular employer (or pension provider). A code of 422L would mean you can earn £4,229 from that particular job without being taxed, but you would still have a further £1,000 available (I know the figures are £4 different - that is due to the way the PAYE system operates in practice). To be absolutely correct, it is wrong to say you don't have to pay 'tax', as VAT is charged on most of what you buy, but I'm sure you know that anyway and I think I know what you're driving at.
2016-03-29 04:04:09 · answer #2 · answered by Anonymous · 0⤊ 0⤋
if you have tax code just add a zero on the end and that is how much you can earn before tax,if you pay too much tax over a year you will get a tax rebate.
uk only.
2007-02-28 03:11:47 · answer #3 · answered by sally_julian2002 1 · 0⤊ 0⤋
Whats your tax code?
It will be three numbers and a letter e.g. 496L is £4965 tax free....
But they sneakily tax you at a weekly rate so if you earn £200 in a week they only give you like£97 free and then tax you on the rest ....
THE SWINES
2007-02-28 03:09:56 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If you earn beneath £4,895 you don't have to pay tax - Hardly alot huh!
Their our other exceptions though - like if your a single mum working less then sixteen hours a week you don't have to pay tax either. Depends on your situation as well.
2007-02-28 03:08:19 · answer #5 · answered by D.W 6 · 0⤊ 1⤋
You can earn as much as you want, just don't get in trouble.
I can earn $80,000+ doing what I do, tax-free, but this is the US only
Usually in the US, if you make more than $5,000 doing whatever, is when you start owing money to the IRS, sorry if you don't know our laws, but it's just an example.
2007-02-28 03:04:58 · answer #6 · answered by Anonymous · 0⤊ 1⤋
I think it depends on circumstances. Mine is around £5000 a year
2007-02-28 03:05:46 · answer #7 · answered by Anonymous · 0⤊ 0⤋
in U.k it's just over £5000 before you're eligible to pay that thieving Mr Brown
2007-02-28 03:07:32 · answer #8 · answered by Smarty 6 · 0⤊ 0⤋
depends on your tax code ie tax code 459 = £4,590 per year
2007-02-28 03:12:21 · answer #9 · answered by kevin s 2 · 0⤊ 0⤋
those goverment swines tax everything girl, apart from nectar points
2007-02-28 03:13:57 · answer #10 · answered by original bad boy 3 · 0⤊ 0⤋