What was the personal tax allowance for 2012 2013 UK?

What was the personal tax allowance for 2012 2013 UK?

Income Tax

Income tax rates 2012/13
rate applicable to trusts 50%
dividend trust rate 42.5%
Personal allowance (PA)
under 65 £8,105

How do I read my UK tax code?

The numbers in an employee’s tax code show how much tax-free income they get in that tax year. You usually multiply the number in the tax code by 10 to get the total amount of income they can earn before being taxed. For example, an employee with the tax code 1257L can earn £12,570 before being taxed.

Why do I have a 0T tax code?

0T code. This code should be used if your employer hasn’t enough information to complete a Starter Checklist. An 0T code gives you no tax free pay, but unlike BR, D0 or D1 codes it is not a flat rate. It takes account of the basic rate, higher rate and additional rate tax bands.

What were the tax rates in 2012?

2012 Tax Brackets and Rates

Single Married Filing Jointly
10% $0 to $8,700 $0 to $17,400
15% $8,701 to $35,350 $17,401 to $70,700
25% $35,351 to $85,650 $70,701 to $142,700
28% $85,651 to $178,650 $142,701 to $217,450

Is ot an emergency tax code?

Is OT An Emergency Tax Code? If your earnings exceed the basic rate tax band, you may get the OT emergency tax code. You might also be put on this tax code if your employer does not provide HMRC with the details they need to give you a tax code.

What are the tax codes in UK?

The L tax code: for most taxpayers.

  • The K tax code: for untaxed income.
  • The S tax code: for Scottish Income Tax.
  • The T and 0T tax codes: for £100,000+ income.
  • M and N tax codes: for the Marriage Allowance.
  • BR, D0 and D1 tax codes: for second jobs and pensions.
  • The NT code: when you pay no tax.
  • W1 and M1: emergency tax codes.

    • What was personal tax allowance 2013?

    2. Income tax allowances

    £ a year
    2013-14 2014-15
    Personal Allowance
    those born after 5 April 1948 9,440 10,000
    those born between 6 April 1938 and 5 April 1948 10,500 10,500

    What is the highest tax code in UK?

    Income Tax rates and bands

    Band Taxable income Tax rate
    Personal Allowance Up to £12,570 0%
    Basic rate £12,571 to £50,270 20%
    Higher rate £50,271 to £150,000 40%
    Additional rate over £150,000 45%

    Does your tax code change every year?

    Usually someone’s tax code changes if their tax-free income (Personal Allowance) goes up or down. For example if they start or stop receiving a taxable benefit like a company car.

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