Salary

Former Member

I am doing a placement starting in June and I am just sorting out my finances as I have a lot of money to pay out in the next couple of months in rent, deposit for the house I will be renting etc but I don't get paid until July. My dad is offering to help me out until I get paid but I need to work out how quickly I can pay it back.

Basically my question is how much tax etc do I have to pay on my salary? I am getting £14,000 for the year but I don't know how much of that I will actually get and how much goes on tax, National Insurance and anything else that gets taken off us.

Can anyone help?

Thanks x

Former Member

As a general rule lop off about 1/3 for tax and NI.

When I was earning £14,200pa I was receiving about £900-£1000 a month after tax.

Former Member

If you google tax calculator...

Former Member

Thanks for your help! I found a tax calculator thing as you siad Katralla and it looks liek I should be getting about £940 per month so similar to what you said Kermit!

Cheers, that has made life a lot easier to calculate things!

Former Member

It's the beer calculator you need to find....that bugger really hurts. It's consumed about 200% of my income for 2 years now.

Former Member

Theres a tax calculator here http://www.moneyforums.co.uk/uk_tax_calc.php

Former Member

Based on the infromation you have provided, you work approximately 86 days a year for the Tax Man.

OUCH

Former Member

LOL

yes when its put like that it does make us look like slaves

Working 85 days for the tax man 80 days for the mortgage company and maybe 10 days for the credit card company

We are pretty much slaves !