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When do you start paying tax?

6 replies

MaggieW · 24/03/2008 12:14

What sort of income do you have to have to start paying tax, and am I right in thinking the basic rate is 20%? TIA.

OP posts:
serenity · 24/03/2008 12:18

I think it's just over 5K, and yes it's now a 20% basic rate.

No1ErmaBombeckfan · 24/03/2008 12:19

Depends on your tax code - usually on your pay slip ie. if rate 435L means the 1st £4,350 is tax free...

sweetheart · 24/03/2008 12:19

What is your tax code? You can work out the tax from that.

MaggieW · 24/03/2008 22:01

I'm a non-taxpayer, so no tax code.

OP posts:
KatyMac · 24/03/2008 22:04

Does this help?

nannyL · 25/03/2008 18:47

technically the 20% rate starts on 6 april

at the moment here is a small amount where you pay 10% (around £2k-ish i think) and 22% there after but on 6 april 2008 it changes to one 20% rate

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