50% tax underpaidJanuary 20, 2011 The Tax Office PAYE computer is not coping well with the 50% tax rate. If you are in this tax bracket for the current tax year, you may have paid insufficient tax under PAYE where you hold more than one concurrent employment or pension. This means you will be racking-up an income tax bill in 2010/11 due for payment by 31 January 2012. This seems a long way off, but advance warning allows you to save up the tax due. PAYE underpaid at 50% rate |
Archives
|
