Re: Very Basic Tax Question

On Wed, 31 Jan 2007 12:44:46 -0000, "Miss L. Toe"
<missltoemissltoe@xxxxxxxxxxx> wrote:


"Ronald Raygun" <no.spam@xxxxxxxxxxxxxxxxxxxxx> wrote in message
news:HY%vh.3816$9S5.1142@xxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Miss L. Toe wrote:


assuming there are no complications (like investment income, sales
commission, annual bonus):
http://www.hmrc.gov.uk/rates/it.htm
Then you can earn:
5225+2150+33300 = 40675 before you pay at 40%

Incorrect. You have made two mistakes (well 3 actually if you include
botching up quoting the original text by not having enough '>'s):

(1) 5225 relates to 2007/8 whereas 2150/33300 relate to 2006/7.

I blame that one on HMRC changing the colum headings half way down..

(2) 33300 *includes* the 2150.


Guilty - I shall go back to sleep for the rest of the day.

The HMRC page is very ugly and confusing. They should have had one
chart with "not yet decided" in the appropriate columns.

--
Peter Saxton from London
peter@xxxxxxxxxxxxxxxxx
.