How is tax calculated on our wages in the UK?

Question

i might be starting a new job where the pay is £187 a week.how much tax will i pay on that??

Answer 1

up to £5365 in 12 months you get taxed nothing (or get a rebate if you pay)

You get taxed 17.5% on any earnings over £5365 up to I think it's £22,000 per year.

then a higher tax band for over £22,000 but under £40,000 per year, I think is 22%

Over £40,000 per year it's something stupid like 25%

If you are self employed you automatically pay 20% then you end up paying the right band for your earnings by filling out a tax return form.

you'll have National Insurance to pay out of that too. I'm not too sure about the percentage, but for self employed it's anything from £2.05 per week to £4.

v3

Answer 2

£16.50 tax and £9.50 national insurance