Taxes

[codswallop]

Band Taxable income Tax rate
Personal Allowance Up to £11,500 0%
Basic rate £11,501 to £45,000 20%
As a pensioner at the moment I pay no tax.If I were to get into the basic range of 20% would anything over £11500 be taxed or would the whole amount be liable.Thanks.

[donny48]

Just what is over.

[fiction-factory]

The first £11500 is tax free so you will pay tax (at 20%) only on any money over that figure. So if you earn £15500 for example you will pay tax on the last £4000

[Flonska]

The source(s) of your income may affect your liability to income tax and the amount you pay. Check https://www.gov.uk/government/publications/dividend-allowance-factsheet/dividend-allowance-factsheet for details. Don't forget that the allowance of £5000 is planned to be reduced to £2000 from 6th April 2018.

[DocHH]

You seem to be indicating that your pension income is below the tax threshhold of £11500.00
To be absolutely honest rather than worrying about paying tax I think you should be investigating if you qualify for additional State benefits.

[New Judge]

Also bear in mind that, although it is paid without tax deduction, the State Pension forms part of your taxable income.

[codswallop]

Thank you all for your informative replies.

[DTCwordfan]

at the margin....

[codswallop]

"at the margin." Not quite sure of your meaning.