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How much will i get taxed on the new tax system?

0% (on income up to 拢5,435 per annum)
20% (on next 拢36,000 per annum)
40% (on all income above 拢41,435 per annum)

There are now only divisions for tax
if im earning 拢12000 A YEAR how much will i get taxed?
WHAT ABOUT 拢18000 A YEAR..

will i get more or less ..so dan confused...hate gordon brown

Look at www.listentotaxman, and play with figures. If you are 拢12000 per annum, you will pay more tax. On 拢18000 you would pay less this year.

Taking tax alone and not national insurance contributions.

12,000 per year salary.
5,435 is tax free, the rest is taxed at 20%.

So you will pay 20% of 拢6,565 which is 拢1,313 per year (拢109.42 per month).

18,000 per year salary.
5,435 is tax free, the rest is taxed at 20%.

so you will pay 20% of 12,545 which is 拢2,513 per year (拢209.42 per month).

This site explains it all very clearly and simply

On 拢12k a year, tax is 拢1313
On 拢18k tax is 拢2513

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