Income Tax Help

Do you know what taxes are taken from your salary?

Every employee in the UK, who earns over a set minimum amount, pays taxes, yet many do not know exactly how much should be deducted from their wages and what the money is going towards.

It is important that you are aware of how much money is being taken from you and why.

This means you have greater control and will find it easier to tell if something is wrong with the levies you are subject to.

Firstly, each worker is subject to Pay As You Earn (PAYE) tax deductions from their wages or occupational pension before they receive their earnings.

This is deducted by the employer, so staff members and retirees do not have to work this out themselves.

The amount you pay will depend on the tax bracket you fall into.

It is important that you know what this is so you do not lose out on cash because of something so simple.

If you want to know how much you should hand over to the government in this way, have a look at our PAYE calculator.

Of course, if you are unsatisfied with the level of money that has been deduced from your wages and you believe a mistake has been made, you can see if you are eligible to claim tax back.

Meanwhile, you must also pay Employee National Insurance and this is also taken from your earnings.

Employers must also contribute towards National Insurance on your behalf.

If you disagree with your tax payments and believe you may the victim of miscalculations, you should set about claiming back tax.