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| *The Commerce Journal>>>United Kingdom Taxes |
My tax code is 522L, this is my first ever job, i started 3 mnths ago. on my payslips says i pay 0 tax. why? |
I have started working 3 months ago. this is my first ever job. I get paid 325 net weekly. My tax code is 522L and on my payslips says that I pay 120 pounds monthly for my national insurance but income tax says 0.00 Don't know what planet Trevor L is on. You won't have earned enough to pay tax for the year 2007/2008, which went from 06/04/07 to 05/04/08. You have a backlog of nine months unused tax allowance. Employer is correct. Its because you've gone across two tax years. Last year you only worked three months so didn't earn enough to pay tax in that year, i.e 拢5220 a quick calculation using last years tax tables, your tax would be 拢44.13 and your NI 拢24.75, but this does not take account of Brown,s abolition of the 10% rate, which will probably increase your tax liability, or any change to your tax code for this year. Its ok - if you didnt earn enough in the 2007-2008 tax year which ended 5th april. |
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