TAX question - how much can I earn before I have to pay tax?

[Holymoly321]

Am thinking of trying to find part time work as DS is now 17months and needs to be with other kids. Nursery is expensivo so would need to work to pay for it (although would prob only earn enough just to pay for it). BUt before I start looking for a job, I want to work out if it's going to be worth it - the wages after tax etc. I would only want to work 2 and a half days really - three at the most.

i-resign.com has a salary calculator under financial tools

i could be wrong (but i hope not) from what i remember you are allowed to earn up to your personal allownce which should be £5,035, anything over this will then be taxes at 22%

have a look here

Assuming you are entitled to a standard tax code (i.e. you don't have other income through investments, pensions etc), the tax would be calculated as follows:

First £5035 per year (or £420 per month): no tax payable.
Next £2150 per year (or £179 per month): 10% tax payable.
Then 22% for next £31150 per year.
40% on anything over that (taxable income over £33,300).

If your tax code is lower than 503L (£5035) then the next earnings brackets will just kick in earlier, but remain at the same amounts.