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How much Federal Tax will I have to pay if?

How Much tax will i pay?

  • I am Currently looking to change jobs but will take a pay cut, How much tax will i pay on £11,000, Will my tax code change and how much can i be expecting to clear each month? Please help??

  • Answer:

    Your tax code remains the same. (most people's is about 600; ie the first £6000 you earn is untaxed.) So, on £11,000 you'll pay about 21% of £5,000 in tax. You'll also have to pay NI on top, of course. Take a look at tax-credits though. I had a job last year where I was earning just £6.20 an hour, but the Tax Office paid an extra £50 a week into my bank account in working tax credits. It was great. (search the HMRC web-site.)

charlie b at Yahoo! Answers Visit the source

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Bit unusual to take a pay cut,but, your tax code will not change and as a general rule of thumb - give or take a few quid you lose about 26% for tax and National Insurance. (why they don't just lump it together and call it tax I don't know) So on 11k you should finish up with about £190 a week.

loanshark

Won't be quite as bad as you may think. Your tax allowance will increase to £6475 on 6th April for the year 2009/10. Play around with http://www.listentotaxman.co.uk .

steffi

Tax code won't change. You can earn the same amount before tax as you can now. Roughly a third of your wages are tax.

Sal*UK

Around 10,000

Cindy

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