Advanced search

Mumsnet has not checked the qualifications of anyone posting here. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

Self-assessment - tax threshold

(4 Posts)
TakingtheHobbitstoIsengard Thu 31-Jan-13 17:37:43

Ah, great - many thanks.

CogitoErgoSometimes Thu 31-Jan-13 17:36:16

You're under the 2011/12 personal allowance of £7475. The allowance for 2012/13 is £8105. Table here

MirandaWest Thu 31-Jan-13 17:34:48

The basic rate is for your taxable income ie after the personal allowance. So for 2011/12 you would pay 20% on your income between £7,476 and a bit over £42k.

TakingtheHobbitstoIsengard Thu 31-Jan-13 17:24:07

Sorry, another SA thread...(can you tell it's deadline day?)

I've completed all the sections to the best of my knowledge. Taxable income comes in at just under £6k and it's saying there is no tax payable - does that sound right?

I was assuming it would fall under the base rate of 20% (£0-£35k), but do I get a Personal Allowance as it's under £7474?

Thanks in advance for any advice!

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now