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Posted: Tue Jan 27, 2009 8:36 pm
by flumpy dog
hi all-hope youre well x
would anybody know to hand the current rate of salary tax-is it still 25 % ?
im just doing some financial housework.
no rebates for me alas thanx [:D]
Posted: Tue Jan 27, 2009 8:38 pm
by luluj
tax and nat insurance works out about 24.5%
Posted: Tue Jan 27, 2009 8:40 pm
by Skippy
I've googled it and it looks like 20% -
http://www.hmrc.gov.uk/rates/it.htm - but I'm not 100% sure.
Posted: Tue Jan 27, 2009 8:48 pm
by flumpy dog
thanx guys its purely for my own knowledge as someone at my work said 23 %
Posted: Tue Jan 27, 2009 10:00 pm
by johnh
Fergie,
The standard rate of tax was reduced to 20% when the 10% tax band was removed. To calculate you tax you deduct the tax free allowance from your gross pay, then apply 20% to the difference. Your tax free pay is your tax code with a "nought" added on the end. Why am I talking about such a boring subject at 10 p.m.???
Posted: Tue Jan 27, 2009 10:12 pm
by flumpy dog
not boring john
youve helped me !
much obliged and thanx you guys aswell[:)]
Posted: Tue Jan 27, 2009 11:21 pm
by MelanieGiles
Why not use the site that I use
www.listentotaxman.com - which will actually calculate the tax and national insurance you ought to be paying on your salary. It is very useful, and also shows you the tax bands.
Posted: Tue Jan 27, 2009 11:31 pm
by flumpy dog
ah that looks good thanx a lot melanie. [:)]