Get a Unique Tax Reference for free with Earnr. Click to get started!

Income Tax


Tax paid on your earnings. Working as an employee, self-employed contractor, earning rent etc are all all forms of income tax that are subject to income tax.

Currently, the basic income tax rate is 20%, increasing to 40% for earnings above and £50,270 and 45% for any earnings above £150,000.

If income is <12,570 then you don’t pay income tax as that’s your personal allowance.

What’s income tax paid on?

It’s usually paid through PAYE by your employer. You might also need to file a self assessment tax return so it can be declared and tax can be paid.

Back to Taxionary

You might also like...

decorative image for a blog
January 4, 2021
Earnr

Welcome to earnr 👋

Our first post on our blog! We can't wait to show you what's next

Read more
decorative image for a blog
August 9, 2022
Self employed

How Earnr creates a steady income for Etsy sellers

Here’s how Earnr helps Etsy sellers organise their income and pay themselves a regular salary

Read more
decorative image for a blog
August 9, 2022
Self employed

How Etsy sellers are adapting to a post lockdown economy

As part of our interest in supporting Etsy sellers, we’ve been doing some digging into the current state of the Etsy world as lockdown becomes more and more a thing of the past.

Read more
Download earnr