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UK income tax rates depend on your income.
Currently, the UK basic income tax rate is 20%.
This increases to 40% for your earnings above £50,270 and to 45% for earnings over £150,000.
Your earnings below £12,570 are tax-free. This is called the Personal Allowance.
However, for every £2 you earn over £100,000, your allowance is reduced by £1.
Use this income tax calculator to see how much you should pay.
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As a self-employed you have to pay your income tax and national insurance contributions yourself during your annual self assessment. Our calculator helps you quickly assess how much payment is due.
However you may be eligible for a tax refund when:
In your case when you earn £49,000:
You pay no income tax on first £12,500 that you make
You pay £7,300 at basic income tax rate (20%) on the next £36,500
|Up to £12,570||0%||Personal allowance|
|£12,571 to £50,270||20%||Basic rate|
|£50,271 to £150,000||40%||Higher rate|
|over £150,000||45%||Additional rate|
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