Boylan & Dodd Income Tax Examples - 2001



Here are some Examples of income tax calculations for the tax period 2001. Please note that we have that 2001 is a short tax year. This has been reflected in all the examples below.

Single People

  1. Mary earns £10,000 in 2001...
  2. John earns £17,000 in 2001...
  3. Sandra earns £25,000 in 2001...


Married People

1. Niamh and Alan earn £24,000 in the short tax year 2001...

2. Niamh and Alan earn £28,000 in the short tax year 2001...

3. Niamh and Alan earn £35,000 in the short tax year 2001...
  • Situation One - Alan and Niamh both earn £17,500
  • Situation Two - Alan and Niamh are a one income family with NO dependents
  • Situation Three - Alan and Niamh are a one income family WITH dependents
  • Situation Four - Alan earns £33,000 and Niamh earns £2,000 and they have dependents

Single People Earning £10,000 or £17,000 in 2001
- Tax Period
2001		 Tax Period
2001		 -
Taxable Income - 10,000 - 17,000 -
Tax: - - - - -
20% Band (£14,800) 2,000 - 2,960 - -
42% Band (@ Balance) - 2,000 924 3,884 -
Tax Credit: - - - - -
Personal All 4,070 - 4,070 - -
PAYE All 1,480 - 1,480 - -
Allowances 5,550 - 5,550 - -
Tax Credit : 5,550 x 20% -(1,110) - (1,110) -
Income Tax for period - £890 - £2,774 -


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Sandra, single, earns £25,000 in the short tax year 2001
- Tax Period
2001
Taxable Income - 25,000 -
Tax: - - -
20% Band (14,800) 2,960 - -
42% Band (@ Balance) 4,284 7,244 -
Tax Credit: - - - - -
Personal All 4,070 - -
PAYE All 1,480 - -
Allowances 5,550 - -
Tax Credit : 5,550 x 20% -(1,110) -
Income Tax for period - £6,134 -


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