Rayvat Accounting specializes in providing complete Taxation Support to our clients from United Kingdom.
We have worked with various individuals as well as corporations in order to help them with the filing of their Income Tax. We have been partnering with various firms across the UK, and are well versed with the laws and regulations of the country when it comes to Income Taxes. We partner with you and help you determine the exact rate of tax that you would need to pay and help you file the same as per the rules of the law.
Our team is constantly researching on various amendments, and so we ensure you that our returns will be as per the current scenario. If we look at the current income tax rates and allowances, the tax that you would need to pay would depend upon the total taxable income of that particular year.
The current taxable year would be from 6th April 2016 to 5th April 2017.
If you have Personal Allowance up to £11500, you will need to pay 0% on the income.
If you have earned the taxable income between £11,501, to 45,000 you will need to pay 20%, If you have earned the taxable income between £45,001 and £150,000, you will need to pay 40% and any personal income over £150,000 will be taxed at the rate of 45%.
This article does not constitute advice. This article is to be used as a general guide for our clients for their own private information Read More.