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The original was posted on /r/ukpersonalfinance by /u/DryTaste3741 on 2023-10-05 18:32:22.
I just got my first payslip/paycheque from my first ever job and looking online has made me confused, I’m very new to this.
I’ve been taxed around 20% but the amount I was getting paid was literally below £700 so I don’t understand what’s going on?
I don’t know if I am being daft or this is supposed to happen. Can someone help me out?
The amount of tax deducted will be based on your tax code. You can find out more here: Https://www.gov.uk/tax-codes/what-your-tax-code-means
Assuming you get to April and the amount youve earned (pre deductions) is below the personnal allowance threshold (£12570) you should get a rebate for the tax youve paid. If your income was over the personnal allowance limit, but below the basic rate limit (£50270). You will be taxed 20% of income after removing the personnal allowance.
Each of the tax bands can be found here: Https://www.gov.uk/income-tax-rates
