Tax Question

[DeeJay]

Hi

I'm really confussed as to how much I should be taxed! Please help.

On a salary of 40k how much tax should be paid? Is the first 34K taxed at the lower and anything about on the higher or is whole lot taxed at the higher band????

V confused!!!

 

[jrewing]

Below approx 34k is taxed at 20%, whatever is above 34k is taxed at 41%.

You also have some tax credits depending on your circumstances, which are deducted from your tax bill.

 

[ClubMan]

Tax Question

Have you tried using [broken link removed] to estimate your deductions? There are other similar tax calculators freely available and recommended in other threads.