tax

Former Member

not sure if this is in the right bit ?

how much tax are they supposed to deduct from your pay ?

because i think im being underpaid ! ... cheeky !! i dont do much work anyway but they dont know that !

Former Member

Have a hunt in Home, Law and Money, there's a fair few threads about tax in there.

As a quick (very simplified and rough) summary:

You get about £5000 a year tax free.
You pay 10% tax on the next £2000.
You pay 22% tax on the rest.

(If you earn lots then you pay 40% tax on the next chunk up, but that's for high earners).

Don't forget there is also National Insurance. If you are paid weekly/monthly then they usually divide your allowance across the whole year, so you get just over £400 a month tax free.

Former Member

Depends how much you earn. Have a word with your payroll person and make sure that your pay is being processed on the right tax code and this years bandwidth- if everything is correct then unfortunately- you'll have to deal with it! Sucks dont it

Former Member

One of the best places to check (though it isn't exactly right) is the salary calculator over on www.i-resign.com

give that a try

Former Member

Your tax code should be 522L and should be on your payslips. If its something differnt ask your payroll department/person why (there are ligit reaons for it being lower/higher)

Scary Monsters tax bands are about right.

National Insurance is charged at 11% over £87 earnt per week.

Always worth checking, I use to get quite a few enquires when I did payroll in my old job.

Former Member

Jim V wrote: »

One of the best places to check (though it isn't exactly right) is the salary calculator over on www.i-resign.com

give that a try

Woo I like that website. Even if it is only a rough figure, it made me feel alot better about what I'll be earning in my new job