At what percentage is emergency tax paid in the UK?
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Just need to know this answer pretty quickly in order to sort out my tax at work and learn how much im earning - help!
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Answer:
22%
angelfac... at Yahoo! Answers Visit the source
Other answers
There isn't an emergency tax percentage. There is an emergency tax CODE which together with your your earnings will determine how much tax you pay. The emergency tax code for this tax year is 503L. In simple terms, to calculate your tax payable, take your ANNUAL salary and deduct £5035. Of the remaining amount, the first £2150 is taxed at 10%, between £2151 and £33300 is taxed at 22% and anything above at 40%. So if you earn £22,000 per year: £5035 is tax free £2150 is taxed at 10% (= £215 tax) £14815 is taxed at 22% (= £3259.30 tax) Annual tax is therefore £3474.3 Monthly tax is 1/12 of this = £289.52 Don't forget you also have to pay National Insurance.
MB
22% normally but if you are a high wage earner, some of your pay may be taxed at 40%. Ask for advice from your wages dept.
Jean M
If they are using the emergency tax code, you may be entitled to a rebate at the end of the year, particularly if you worked 11 or fewer months for the company. You might owe if you worked another job during the tax year. See a tax accountant at the end of the year to sort out your personal taxes, or file online.
lizzit
22%
Mrs Cullen
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