- Joined
- Sep 5, 2022
- Messages
- 1
- Reaction score
- 0
- Country
Hi.
I hope this is the right place to ask. I am trying to break down how I get paid. I have my income which is £1,828.10 every 4 weeks, but this is subject to change every 4 weeks, but for this calculation, I am working on £1,828.10. My pension is 5% which would work out as £91.41 deduction, my N.I is 0% up to £968, then 13.25% from £968 which calculates as £113.96 deduction. The issue I am having is TAX. I understand that tax is 20%, but I need to calculate my TAXABLE PAY and then the actual TAX and I can't for the life of me figure this out, My personal allowance is £12,630 a year.
On a side note, using calculators online, I believe my taxable pay is £765.16 which would be £153.03 tax, but I don't know how this is calculated and broken down. This is the actual issue I am facing.
If anyone can assist me and explain the calculation, that would be great.
Thank you in advance, please ask for any clarification.
I hope this is the right place to ask. I am trying to break down how I get paid. I have my income which is £1,828.10 every 4 weeks, but this is subject to change every 4 weeks, but for this calculation, I am working on £1,828.10. My pension is 5% which would work out as £91.41 deduction, my N.I is 0% up to £968, then 13.25% from £968 which calculates as £113.96 deduction. The issue I am having is TAX. I understand that tax is 20%, but I need to calculate my TAXABLE PAY and then the actual TAX and I can't for the life of me figure this out, My personal allowance is £12,630 a year.
On a side note, using calculators online, I believe my taxable pay is £765.16 which would be £153.03 tax, but I don't know how this is calculated and broken down. This is the actual issue I am facing.
If anyone can assist me and explain the calculation, that would be great.
Thank you in advance, please ask for any clarification.