Hi i how much tax do we pay earning £45000?

Question

Hi i how much tax do we pay earning £45000?

Answer 1

This depends on your age, whether you are married and etc. You can find out from www.listentotaxman.com

Answer 2

Under 40k is 17.5%, not sure about the 45k as I never earned that much.

Answer 3

dont forget that as well as income tax you will also need to figure into your equation national insurance payments (another tax)

plus pension and medical insurance payments plus tax for any other benefits in kind.

you need to search www.hmrc.gov.uk to get the full details on how it can affect you as your individual circumstances can alter the total salary deductions by over £5000 per year!

Answer 4

Look on this government website where it tells you

When you have seen your tax you will notice you can work out your NHI on the left hand side of the page

Answer 5

See www.listentotaxman.

Answer 6

roughly the first £5000 per year per person is tax free.

earning above that and up to £36,000 are taxed at 20%, so roughly 31k of your earnings = £6200, the rest is taxed at 40%, so 40% of the remaining £9,000 = £3600

You should be paying about £9800 per year

Answer 7

If you are an individual, under 65 and have no other income, allowances or deductions your tax liability for tax year 2008/2009 is £8,626 in income tax and a further £3,853.40 in National Insurance.  In percentage terms your total deductions as a percentage of earnings is 28%.  

Disclaimer:

The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances.  To find and IFA please call 0800 085 3250 or go to http://www.unbiased.co.uk.