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Thread: UK 40% Tax
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14-01-2004, 06:42 PM #1
UK 40% Tax
Hello All,
Can anyone tell me at what point do we start paying 40% tax to Mr Brown. I have heard the figures between 29-30k mentioned so how does this work, I will assume for the examples it's 30K
1) 40% starts at 30k Earnings (eg £30001)
2) 40% Starts at 30k TAXABLE Earnings (Eg Tax code 411 = £4110 tax free) so 40% worked on taxable earnings means it starts at £34111 total earnings.
Anyone have a clue how the systems work. I hope the above makes sense, it does in my head but that does not say a lot.
I am sure the government make it difficult as possible to work out so they can get the max but any ideas would help.
P.S. If its option (1) i am having march & april off unpaid holiday
Thank-you for any help you can offer.