Can you also please give me the website or link where I can find this infomation
2007-07-23 00:46:31 · 6 answers · asked by Azul 3 in Business & Finance ➔ Taxes ➔ United Kingdom
I am assuming this question to relate to UK Taxation.
Emergency tax means that you are taxed on the total amount you are earning. You do not pay a higher % of tax.
You are allowed to earn a certain amount that you do not pay any tax on at all and this varies depending on your circumstances (around £5,000). If you are a student you do not pay tax at all.
Currently on an emergency tax code (BR) you will be taxed at 22% of your entire earnings. You should have a tax code (something like 503L) and you will be allowed to earn £5035 a year non taxed a further £2,000 or so at 10% tax then the rest at 22%.
Emergency code means that you have not been allocated a tax code yet. If you are a student approach your employer to sign a declaration which they will send away for you. This will stop you from paying tax and you will get a rebate.
As of April next year tax changes to 20% and there is no 10% allowance.
Its very complex, speak with your employer for help or phone the Income Tax Office - number in your phone book. I find them very helpful.
2007-07-23 01:37:06 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Basic rate of 20%
Call the tax office 0845 90 00 645 for more info
Good luck
2007-07-23 00:50:21 · answer #2 · answered by brit_plod 4 · 0⤊ 0⤋
One consolation is that if you have overpaid when you get your new code before the end of the tax year you will get it back. They got my code wrong last year and it was so obvious I rang them back and told them and hit a loosely packed cotton wool wall. I had to wait until I made a formal claim as soon as I got my P60. This was due to me becoming a pensioner last September and they knocked a full year gov.pension from my personal; allowance not six months.
UK Tax
2007-07-23 07:11:18 · answer #3 · answered by Scouse 7 · 0⤊ 0⤋
The percentage rate depends entirely upon how much you earn. If your income after allowances exceeds £34,600 pa you will pay tax at 40% on the excess. Lower incomes are taxed at 22% and 10% bands.
2007-07-23 05:26:05 · answer #4 · answered by Do not trust low score answerers 7 · 0⤊ 0⤋
I would advice that you contact the Tax Office for accurate calculation. google will give you the website. Have a nice day.
2007-07-26 22:46:31 · answer #5 · answered by Anonymous · 0⤊ 0⤋
sacao-te 20% a 30%. mas devolvem-te a diferenca em abril. Bem vinda ao UK X
2007-07-23 00:51:47 · answer #6 · answered by baby jesus 2 · 0⤊ 0⤋