Note: From the 2010-11 tax year the Personal Allowance reduces where the income
is above £100,000 – by £1 for every £2 of income above the £100,000 limit. Because
your income is above
£100,000
your tax allowance has been reduced from
£12,500
to
£2,000.
PAYE (on £121,000, Tax code 200L, Fiscal Year 2019/2020)
Band |
Rate |
Lower Limit |
Upper Limit |
Tax |
Basic rate |
20% |
0 |
£37,500 |
£7,500 |
Higher rate |
40% |
£37,500 |
£150,000 |
£32,600 |
Additional rate |
45% |
£150,000 |
- |
£0 |
|
|
|
Total Tax:
|
£40,100
|
Employees NI (on £121,000, Fiscal Year 2019/2020)
Band |
Rate |
Lower Limit |
Upper Limit |
Tax |
Primary threshold |
0% |
0 |
£166 |
0 |
rate below upper earnings limit |
12% |
£166 |
£962 |
£4,967 |
rate above upper earnings limit |
2% |
£962 |
- |
£1,419 |
|
|
|
Total Tax:
|
£6,386
|