Basic rate on wage percentage

20 replies
Found 17th Feb 2011
Does anyone know what the basic rate (emergency tax) percenatge is??

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20 Comments

40%

Original Poster

Jesus god!!!

you get it back though, so dont panic!

My basic rate is 20%? I use all of my tax allowance with my contract job, I do a few extra hours (same place of work) through an agency which my tax code is br, 20% is taken

Original Poster

I don't earn between this though:

Higher tax rate 40% on annual earnings from £37,401 to £150,000

My wage is in between this bracket:

Basic tax rate 20% on annual earnings above the PAYE tax threshold and up to £37,400

Edited by: "saxo_appeal" 17th Feb 2011

The emergency tax code is set each year and is a number followed by the letter L. The number is the basic Personal Allowance (£6,475 for the tax 2010-11) divided by 10. The emergency code for 2010-11 is therefore 647L.

greg_68

The emergency tax code is set each year and is a number followed by the … The emergency tax code is set each year and is a number followed by the letter L. The number is the basic Personal Allowance (£6,475 for the tax 2010-11) divided by 10. The emergency code for 2010-11 is therefore 647L.



That's not 'emergency rate' though is it? That's just your rate

20% on all you earn. It just means your tax allowance isn't taken into account.

Original Poster

So the tax rate won't be 40% then as I'm not earning between £37,000 and £150k ?

Banned

saxo_appeal

So the tax rate won't be 40% then as I'm not earning between £37,000 and … So the tax rate won't be 40% then as I'm not earning between £37,000 and £150k ?


but you are on an emergency tax code - google should have been your first point of call as generally advice from hukd is useless in most cases

taxfix.co.uk/for…tml

Edited by: "csiman" 17th Feb 2011

Original Poster

You get loads of advice, I come here to get basic info and when 2-3 people agree then usually I go with that lol

saxo_appeal

You get loads of advice, I come here to get basic info and when 2-3 … You get loads of advice, I come here to get basic info and when 2-3 people agree then usually I go with that lol


Like PaulDoc666 Says you will be charged on all your earnings as if you have used your personal allowance

I thought mine was 40% when I got tasked at the emergency amount. Its because they dont know how much your going to earn, therefore they take the maximum off you. It comes back once you let them know how much your earning.

I usually have to go through this each year... and HR never know what to do

Don't forget why you are paying them.. So people like that can go on living the care free life style...

Still waiting for this government to kill off some pointless benefits and stick to a core temporary backup benefit whilst people get themselves back on their feet.. Which is what the system was setup for...


dailymail.co.uk/new…tml


http://i.dailymail.co.uk/i/pix/2008/07/09/article-0-01E51D1800000578-123_468x391.jpg

Banned

saxo_appeal

You get loads of advice, I come here to get basic info and when 2-3 … You get loads of advice, I come here to get basic info and when 2-3 people agree then usually I go with that lol


my point was that so many people give bad / wrong advice, its hard to tell what is right whereas google gives hard facts if you search correctly. Took me 2 seconds to find the link above.

Basing it on 2-3 people agreeing is a recipe for disaster.

just my opinion of course

Original Poster

I questioned my payroll department and this is what I got back:

Question I asked was:

Hello Sybil,

Just wondering if you had received my tax code yet? I really don't want to be paying 40% off my wages if at all possible

Reply:

Hi Lee

In reply to your queries:

1. I have not received notification from the tax office regarding your tax code. I advise you to contact them yourselves; I am not permitted to call on someone else's behalf. The number is 0845 3000 627 do have your national insurance number to hand. By the way you are paying 20% tax not 40%.

Basic Rate tax is 20%. I work in payroll. You will be taxed 20% of all your earnings. You need to ring HMRC who will issue you a tax code, and also they will send this to your employer.

Once your employer changes your tax code, providing this is before 5th April you will get all your overpaid tax back through your employer. After this date you will have to apply to HMRC to get it back..

Banned

Yes having to pay 40% tax sucks ass. I think I'll actually cry when I have to start paying 50%

Original Poster

Wheezy have sent you a pm
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