Brendan Hughes

Can you folks give me an idea?

What's your monthly takehome pay if your annual salary is

25k
30k
40k?

Simple as that. No car allowance, no performance bonuses, etc. Employee tax rates, NI etc.

I only know my monthly takehome in euros, so am just trying to work out if I'd be better or worse off getting a job in the UK...

Thanks
Brendan

The Zohan

On 39K i took home £1,980.00 approx. Taxed to buggery, no kids, co car (Scoob) This was 19 months ago before NI took a hike

Now freelance/self employed, less tax, less office politics and generally less sh*t to put up with


[Edited by Paul Habgood - 9/25/2003 5:53:03 PM]

Brendan Hughes

Thanks Paul

ProperCharlie

on 45k the take home for someone like me with no tax credits is £29695.64 a year, apparently.

22% up to £30k
30% on everything over £30k. not sure how to work out the NI.

hth

scoob_babe

Car allowance is added to your salary anyway and the total is then taxed. If your basic salary is under the 40% threshold but the car allowance puts it over, then you will be tazed at 40%

http://listen.to/taxman will give you an indication

Freak

Someone should start a rival site
http://kill.the/taxman/
[img]images/smilies/mad.gif[/img]


Self employed here- much much better

Robertio

iTrader: (1)

25k would be a few quid over 1,500 a month.

scoob_babe

nice one Freak

it wil only be an indication, I don't know how they work their figures out but when I enter my details, the answer is about £200 less than what is on my payslip!

Maddriver

I usually guesstimate 25% of income going in tax / NI.

Its certainly more than 20% although the exact percentage increases the higher the income.

I do have a nice little spreadsheet that works it out for me, but its on the work computer, will try to remeber to bring it home tomorrow.

MattN

just divide by 16 works up to the higher tax band.

CHRIS_D

Im on £36K

Take home is approx £2,000 +/- £100

chris

edited to add: this includes NI already taken out (roughly £200)

[Edited by CHRIS_D - 9/25/2003 8:06:18 PM]

Puff The Magic Wagon!

iTrader: (2)

Last salary £36k - no frills

Took £2167 pcm

P1Fanatic

Just under £31k and I take home about £1,775 but a hundred of that is pension so around £1,875 after tax and NI.

Simon.

Puff The Magic Wagon!

iTrader: (2)

That figure was for when I had a job


P1F - your pension "should" be tax-free if done correctly, is it?

paulr

Todays monthly wage slip.

taxable pay 2732.04
tax 495.87
natins 242.87
union fees 7.45
net pay 1985.85

TimGR

Quote

Car allowance is added to your salary anyway and the total is then taxed. If your basic salary is under the 40% threshold but the car allowance puts it over, then you will be tazed at 40%

Unquote

You will only be taxed at 40% on the taxable income over Pds 30,000, so if you earn 30,001 you will only be taxed at 40% on the one pound.

tax bands are as follows (tax year 2003/2004):

Personal allowance (tax free) Pds 4,615 0%
next 1,960 10%
from 1,961 up to 30,500 22%
over 30,500 40%

MattW

On 36k plus 2k(est) bonus paid in May. Usually take home £2100 or so. Non contribute pension tho.

Tiggs

lol....on the basis that your pay is one of the most important reasons for working how on erath can you lot not be able to calculate your tax????

ProperCharlie

Tiggs - cos someone else does it for us? (Payline/Centrefile in my case)

brickboy

£45K a year plus company car (Passat PD130 sport, but I pay all my own fuel).

Equals £2400 per month after tax & NI.

fast bloke

Personal allowance £4,615 0%
£1,960 @10%
£1,961 up to £30,500 @22%
£30,500 and above 40%

Say you earn £40000.00

Subtract £4615.
You will be taxed on £35385.00
10 % for the next £1960.00 - £196.00 tax and a balance of £33425.00.
22% of £23494.00 = tax of £5263.00
40% of balance = tax of £3972.00

Total tax is £9251.00

Add about £2500 for NI contributions (can't be a**sed looking this up but I think this is the upper limit) givin a monthly income of about £2350.00

Disclaimer - I have got a hangover so this could very well be wrong

fast bloke

BTW - Proper Charlie - Are you sure they get it right?

TimGR

Get some kids and get an extra allowance of Pds 5,290!!

ProperCharlie

fast bloke - well that is of course a slight concern but as their whole business revolves around calculating people's PAYE tax, you would think they should have some idea!

jpmason33

try here

http://www.i-resign.co.uk/uk/financi...calculator.asp

Puff The Magic Wagon!

iTrader: (2)

PC

You'd "hope" so but even with fixed salary, no bonus, a P11D showing zero benefits one year, I submitted my P60 details on my self-assessment form and the taxman came back that I owed them £150 for under-payment

& that is for a major London paye company



Also, I believe that YOU have the duty to ensure that your tax is paid, 'cos I heard a story where tax was deducted by the company but after a couple of years when they moved on, found out that the company had NOT forwarded the money to the taxman They were then responsible for paying the tax/NI for the missed out period Company I believe went bust...

So it pays to check.

ProperCharlie

PTMW - we had a similar thing; one day some woman rolls up at the office and demands to speak to me.

"I'm from the Ilnad Revenue - why haven't you paind last period's PAYE for all your employees"

Me: "err, this is a bit of a surprise, why didn't you phone my accounts guy?"

"We're trying to catch you. We don't give advanced notice"

anyway, after a bit of investigating it transpired that there was some kind of IR originated **** up with id codes. we had paid, it just hadn't been allocated properly *by the IR*. gave me a bit of a shock though.

Duck_Pond

I had a nice experience last year with my self-assessment form. Never had to fill in one before, and they only sent me the forms with 2 weeks left in which to get them to do the calculations.

Of course I was late in sending in the forms - can never lay my hands on documents if I really need to! So a letter went with it moaning about how late they'd sent it.

A couple of weeks later, I get a letter saying that because it was sent late, I now had to perform the calculations and send them a cheque. So on to the net, printed off all the calculations.

Spent about 5 hours getting totally confused by what I was supposed to be doing, gave up, made an educated () guess at what I reckoned I owed (from bank statements etc.) and sent off a cheque for £130.

Get a letter the next month with their calculations. Hmm - should be about what I guessed, me thinks.

DOH!!! Bill for £13,000 !!!

After going grey over night, and defying the laws of human biology and giving birth to kittens, it transpired when I called them, that I'd forgotten to fill in one rather important field on the original form... i.e. what I'd already paid in tax!! Whoops.

Sent a letter with that info in, and got a rebate of about £15.

Hobo_Jojo

bloody ell most of u pay more tax than i earn in a year!!

im on a tiny crappy 9k!

Dr Nick

Gah!

I had been looking for a site like the one Scoob_babe just linked to for ages without success.

So I made my own spreadsheet to calculate it.

The spreadsheet was so complicated that when I used it, it caused a rift in the space-time continuum.

But having just checked it against the web calculator, it works!

Cheers!