UK income tax
Thread poster: RosaT

RosaT  Identity Verified
Spain
Local time: 20:24
English to Spanish
+ ...
Apr 5, 2003

Dear all,


Here is a question for those of you freelancing in the UK.


I will be completing my first self-assessment in this country and I am not familiar with the amounts you usually have to pay for income tax.


My question is basically how much money (what percentage) of my earnings should I be keeping aside for income taxes?


I understand this varies and expenditure has to be taken into account, but a rough percentage figure would do, as I have heard different things (about 20%, 25%, etc)


I would greatly appreciate any help.


Kind regards.


 

DGK T-I  Identity Verified
United Kingdom
Local time: 19:24
Georgian to English
+ ...
rough % from a non expert Apr 5, 2003

I believe 25% is the very rough estimate that people tend to talk about, to include income tax and national insurance (which is really a tax). The income tax element would be less.

Tax and fiscal experts please correct me...


Looking since - I think there\'s a better answer to this than mine in \"Being Independent\" (in answer to the same question)!

[ This Message was edited by: giulik on 2003-04-06 13:21]


 

RosaT  Identity Verified
Spain
Local time: 20:24
English to Spanish
+ ...
TOPIC STARTER
Thank you! Apr 7, 2003

Many thanks for your feedback.

 


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UK income tax

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