What would be the take home pay?

Phate

Phate

Phate

Caporegime
Joined
1 Nov 2003
Posts
35,691
Location
Lisbon, Portugal
Hourly rate £17.95
37.5 hours a week
Weekly pay

Before tax is £673
After? Anyone smart that can figure it out for me please? :)

Many Thanks,
Jake

:)
 
Try using this, it will calculate the tax & NI deductions. I've found it slightly out in the past but not by a significant amount. Just use it as a guide.

Doh Kol beat me to it :p that will teach me stop typing to grab a drink lol
 
If you ever want a quick and dirty rough estimation for a basic rate taxpayer it's 70% of post personal allowance earnings + personal allowance.
 
It's £2172 a month or £35k a year if its a salaried position. If its IT contracting or something, though, dont forget you'll need to handle your own tax and NI as you'll be self employed. You'll probably end up hiring an umbrella company to take care of this so your take home will be less.
 
[TW]Fox;17231118 said:
It's £2172 a month or £35k a year if its a salaried position. If its IT contracting or something, though, dont forget you'll need to handle your own tax and NI as you'll be self employed. You'll probably end up hiring an umbrella company to take care of this so your take home will be less.
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I use Giant. But they don't take much at all, and allow me to offset expenses etc to increase take home. :)
 
Phate said:
I use Giant. But they don't take much at all, and allow me to offset expenses etc to increase take home. :)
Click to expand...

"They" don't allow you to offset anything. ITTOIA 2005 (ITEPA 2003 if you're employed, it depends on your arrangement) does.

</tax pedant>
 
vonhelmet said:
"They" don't allow you to offset anything. ITTOIA 2005 (ITEPA 2003 if you're employed, it depends on your arrangement) does.

</tax pedant>
Click to expand...
Ok Tax master tell me how it works please, in dummies kinda terms as I find tax etc very confusing.

How do they mean by offset?
 
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