How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Sam Your Own Question
Sam
Sam, Accountant
Category: UK Tax
Satisfied Customers: 13657
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Capital Gains, CIS ask for Sam Tax
16196420
Type Your UK Tax Question Here...
Sam is online now
A new question is answered every 9 seconds

hi, if i have a gross anual income of 80,000 pound how much

Resolved Question:

hi,
if i have a gross anual income of 80,000 pound how much do I have to pay for income tax?

thanks
Submitted: 5 years ago.
Category: UK Tax
Expert:  Sam replied 5 years ago.

Hi

 

Thanks for your question

 

For this tax year the first £7475 will be tax free leaving £72,525 liable to tax. The first £35,000 will be liable to 20% tax = £7000 with the remaining £37,525 at 40% = £15,010

Total tax of £22,010 plus Class 1 national Insurance of £4981 - so you will take home £53,009 a year

 

Thanks

 

Sam

Sam and other UK Tax Specialists are ready to help you

Related UK Tax Questions