AS the self-assessment tax return deadline nears, millions of Brits are filing their 2020-2021 accounts.
The biggest taking is likely to be income tax, a cut of your earnings once they’ve reached a certain threshold. Income tax rates only kick in after the tax-free personal allowance But what is that threshold?
There are different tax rates which increase with the more money you earn.There’s also the personal allowance, which means the first chunk of the money you make is entirely tax-free.Here’s how it works. What’s the personal allowance? The personal allowance is the amount you can earn each year tax-free.It can […]