steffi
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The personal allowance is the tax-free amount you can earn before you have to pay tax. For this tax year it is £6035, next April it goes up to £6475. After that you pay 20% tax.
Are you paying tax on less money than this? If so, would need more information to advise further. |
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shortbreadtin
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You get a certain amount tax free and pay tax on the rest. How much depends on your circumstances (age, earnings etc) which dictate the tax code you're given.
"Tax-free allowances
Nearly everyone who is resident in the UK for tax purposes receives a 'Personal Allowance', which is an amount of taxable income you're allowed to earn or receive each year tax-free.
This tax year (2008-09), the basic Personal Allowance - or tax-free amount - is £6,035. You may be entitled to a higher Personal Allowance if you're 65 or over.
If you're registered blind, or are unable to perform any work for which eyesight is essential, you can also claim the tax-free Blind Person's Allowance.
Income Tax is only due on taxable income that's above your tax-free allowances." |
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nosdda
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The £6035 you speak about is classed as Personal Allowance " which is tax free. Any earnings after that is payable at normal Tax rates. So in effect, you have £116 per week not taxed. |
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Margaret S
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You have just over 6K as a personal allownace and pay tax on anything earned over that amount. If eg you will earn 10K in a year then you have tax to pay on just under 4K - this amount is then divided into 12 month payments and that is your tax for the year paid a little bit out of each month's pay. |
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Han
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The government allows you to earn your first £6035.00 tax free.
After that you pay tax - however that doesn't mean say your first 6 months of wages are tax free (if youearned approx £1000/month), it's all added up and calculated over one tax year.
£6035 might sound a lot, but trust me it is nothing! |
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David C
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What you read is correct.£6035 in a year staring 6th April 2008. |
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andrew c
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The £6 k is your tax free allowance if you are likely to earn more than that over the tax year you will have been paying tax since last april. |
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Linda G
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You could try phoning your local tax office. |
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blee
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That is correct! you do have to pay income tax but you get a full refund. Go into your local tax office |
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Craggy
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There are things called 'personal allowances' which is an amount you ned to earn before you start paying tax. 6K sounds about right.
Still have to pay Ni though, so I believe. |
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Kid B
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Yup. Your first $6000 or so is tax free. |
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Steve D
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I think you will pay tax whatever you are earning, then if it turns out that you have earnt less than 6k in a tax year (april to april) you'll be entitled to a tax rebate. |
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Mostin46
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Depends on your personal circumstances eg age, marital status, employment status etc. but everyone is given a " tax free allowance ", an amount at which you will not pay income tax until you exceed that amount ie my allowance is £4035 per year, so I do not pay tax until my earnings exceed £4035 and so anything over that is taxable. As I earn @ £30,000 a year I still pay tax week in week bloody out. You would have to be on a very low wage / work very few hours to not pay any tax at all ie to stay under your tax free allowance. |
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