For the tax yr 98-99 the p.allowance set against tax was £4045 for a single person. After this and any other allowances were deducted the first £4300 of income was taxed at 20%, the next £22800 was taxed at 23% and the rest at 40%. For a single person with no other allowances to deduct calcualte the tax paid on a salary of £15000 pounds p.a
2007-10-31 06:49:11 · 3 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics
breakdown...
15000 ..... 4045 ... tax free
.... ........ . 4300 ... 20% tax = 860
.... ........ . 6655 ... 23% tax = 1530.65
thus total tax = £2390.65
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2007-10-31 07:00:30 · answer #1 · answered by Alam Ko Iyan 7 · 1⤊ 0⤋
£15000 - £4045 = £10955 taxable income
£10955 - £4300 = £6655 taxed at 28%
Total tax = .2( £4300) + .28( £6655) = £2,723.4
2007-10-31 14:00:13 · answer #2 · answered by ironduke8159 7 · 0⤊ 0⤋
just pay it and get back to work.
2007-10-31 13:57:58 · answer #3 · answered by drummer158 3 · 0⤊ 0⤋