2.2.1 Calculating Income Tax
This quiz tests your ability to calculate the Income Tax you should pay on an income.
Activity 2
Use the information you’ve just read to work out how much Income Tax would be paid by earning £26,850 (from employment or from a pension) for 2018/19 if you live in England, Wales or Northern Ireland.
You might find it helpful to work out your answer using the following process:
Income from employment or pension £26,850
Minus personal allowance £ —————
Leaves taxable pay of £ —————
Basic rate ————— % on £ ————— is £ —————
Tax to be paid in the year 2018/19 is £ —————
OpenLearn - Managing my money
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