Tax Methods For Salary And Dividends
January 12, 2023 ⚊ 1 Min read ⚊ Views 86 ⚊ BLOG
If a contractor pays a wage beyond their personal tax allowance (£11,000 in 2016/17), the excess is “taxable income” and income tax rates apply. Budget personal allowance is a beginning point. Some people’s tax profiles imply their tax code (which shows their tax allowance) varies. Not everyone has a 1100L tax code and £11,000 allowance. To make things easy, we’ll discuss a £11,000 tax allowance.
Tags: Accountants in London
