My Pay: April & End of Year Taxes
This month, as well as publishing my pay slip, I am publishing my p60. The P60 shows my total income and taxes for the last financial year, for my position as a Councillor.
I believe this makes me the first UK politician to publish this information. I hope I am not the last.
So, what does the P60 show?
I was paid a total of £9320.46 for the last financial year. This is lower than the £10,412 allowance as I was elected 1 month into the financial year (which runs April to April).
I paid £1864 in income taxes. (19.9%.)
My entire allowance is taxed at the BR (basic rate) level. This is because I have a second, primary job, where I use the total of my tax free allowance. Therefore, none of my Councillor allowance is tax free.
You, the public, pay my allowance with your taxes. So I think you are entitled to see that I am paying mine.