Child benefit for the tax years 16/17 and 17/18 is £20.70 for the eldest/only child and £13.70 for the other children. But the benefit is reduced for any family in which anyone earns more than £50k, depending on the earnings above that level. The benefit will…
There are three tax ‘types’ payable on salary payments (salary payments include sick leave, maternity or paternity pay and adoption pay) and they all work on a sliding scale. The more you earn, the more tax you pay. * PAYE Tax: Employers deduct Pay As You…
Banks and building societies are required by law to deduct income tax at 20% from interest before they pay it to you. This does not include your ISA (Individual Savings Account) as you don’t pay tax on interest earned from an ISA. It is tax free. Interest received…