25Sep2022
Category
- Income Tax
- Council Tax
- VAT
- Vehicle Tax
- NHS
Income Tax rates and bands -source: UK Gov
The table shows the tax rates you pay in each band if you have a standard Personal Allowance of £12,570.
Income tax bands are different if you live in Scotland.
| Band | Taxable income | Tax rate |
|---|---|---|
| Personal Allowance | Up to £12,570 | 0% |
| Basic rate | £12,571 to £50,270 | 20% |
| Higher rate | £50,271 to £150,000 | 40% |
| Additional rate | over £150,000 | 45% |
You can also see the rates and bands without the Personal Allowance. You do not get a Personal Allowance on taxable income over £125,140.
If you’re employed or get a pension
Check your Income Tax to see:
- your Personal Allowance and tax code
- how much tax you’ve paid in the current tax year
- how much you’re likely to pay for the rest of the year
>>>>If you got £100k annually, you have to pay £1 when you have £2; therefore, if you earn £125,140 , you will have no personal allowance.
>>>>Company will deduct the tax you have to pay before paying salary to you.
Council Tax
You can check your council tax here:
https://www.gov.uk/pay-council-tax;
https://www.gov.uk/council-tax-bands
To know your Council tax Banding here,
https://www.gov.uk/council-tax-bands
You have to pay your council tax ONCE per annum
VAT
20% of original goods for VAT, and the listed price in market already included
Buy something before going to UK, as HK cheaper
NHS
