Income Tax and National Insurance
Core Maths – Finance assessment MERGEFIELD Sheet_no 1Income Tax and National InsuranceQ1) Cat has a job that pays and annual salary of ? MERGEFIELD Q1_salary 85800She pays Income Tax with a personal allowance of ?12500She also pays National InsuranceCalculate the amount of Income Tax she pays for the yearCalculate the amount of National Insurance she pays for the yearQ2)Tom is employed on an annual salary of MERGEFIELD "Q2_salary" 25300He has a personal, tax-free allowance of ?12500He has to make full National Insurance contributions.Each month, Tom saves 15% of his take-home pay.How much has he saved after one year?**********************************************************************************National Insurance 2020-2021Percentage NI dueMin weekly incomeMax weekly incomeMin yearly incomeMax yearly income0%??183??9 50012%?183.01?962?9 500.01?50 0002%Above ?962?Above ?50 000?Income Tax 2020 — 2021Everyone in the UK has a personal allowance. This is their annual amount of tax-free income.The standard personal allowance for 2020-2021 is ?12 500?563626067691000RateTaxable IncomeBasic: 20%Up to ?37 500Higher: 40%?37 501 to ?150 000 ................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related searches
- the lincoln national insurance company
- student loans and income tax returns
- lincoln national insurance ratings
- state and federal income tax calculator
- 2020 federal income tax tables and brackets
- federal and state income tax calculator 2020
- 2019 federal income tax forms and instructions
- income tax benefit income statement
- income tax expense income statement
- medicaid and income tax return
- income tax refunds and medicaid
- 2021 federal income tax tables and brackets