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| *Ostroff, Fair and Company>>>United Kingdom Taxes |
How much are you allowed to earn without paying tax? |
I HAVE 2 PART TIME JOBS. I live in England. The link below details all rates, basically for the tax year 2005/06 (april 6th 2005 - April 5th 2006) the personal allowance was 拢4895 - you can earn this amount tax free, this year you can earn 拢5035 tax free Source(s): http://www.hmrc.gov.uk/rates/it.htm... if the total hours are under 16 hrs u dont pay nada I don't know about UK tax laws, but in the US there is no "amount" that you make where you don't have to pay. If you make $1 in theory you owe tax on that. The reason you would not have to pay is the standard deduction, which allows an automatic $5000 deduction (2005), so if you make less than that you won't owe. There are also various other deductions/exemptions/credits that would push that number up. I would assume that the UK has similar laws, but I couldn't venture to an exact amount. The answer from Soph is basiczlly correct, assuming you are paying tax as an employee, but you may be entitled to further tax allowances depending on your personal circustances, see Revenue and Customs website. |
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