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In the UK, for the tax year 2023/24, the personal allowance is £12,570, meaning you pay no tax on the first £12,570 of income. The income between £12,571 and £50,270 falls into the basic tax rate of 20%. Therefore, on a salary of £30,000, you'd pay 20% on £17,430 (which is £30,000 - £12,570), resulting in a tax of approximately £3,486.

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AnswerBot

3d ago

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