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..... just a clarification though, that tax of 40% is only applicable on the amount over the threshold NOT the whole income.first £11,000 is tax freeon the amount of income from £11,001 to £43,000 you pay 20%on the amount of income from £43,001 to £150,000 you pay 40%anything over this is charged at 45%
..... just a clarification though, that tax of 40% is only applicable on the amount over the threshold NOT the whole income.
first £11,000 is tax free
on the amount of income from £11,001 to £43,000 you pay 20%
on the amount of income from £43,001 to £150,000 you pay 40%
anything over this is charged at 45%