What Salary?

anticlaus105

Simple question.

What salary would someone need to be paid in order to end up with £50000 per year after tax and NIC.

I have tried but not sure if i'm working it back correctly.

Cheers

Robert_Sterling_3

Wht not tell us your answer Anticlaus105

simon_lse

£76,033 give or take

melipona

There is a calculator here:
http://www.i-resign.com/uk/financialcentre/tax_calculator.asp

Crazy_C

Thats a difficult one to work out because you pay 22% tax up to I think its 32000 and then 40 % on anything above, plus your NI contributions go up the more you earn, there is a web site search for salary calulators and you should find out on there.

Tony_H_3

melipona wrote:

There is a calculator here:
http://www.i-resign.com/uk/financialcentre/tax_calculator.asp

Oooh Eeeer that's a bit backwards it gives the impression that it will tell you how much you need to earn based on what you want! Instead it tells you what you will get.

pin

plugged in the £76k fig and:

http://www.i-resign.com/uk/financialcentre/tax_calculator_tool.asp?txtGrossSalary=76%2C033&radAge=1&txtStudentLoan=0&imageField.x=32&imageField.y=9

anticlaus105

Cheers. That was roughly what I got. Someone said 2/3 rds as a rough rule n they were right.

EDIT: I-Resign.com LOL!

ffacoffipawb

pin wrote:

plugged in the £76k fig and:

http://www.i-resign.com/uk/financialcentre/tax_calculator_tool.asp?txtGrossSalary=76%2C033&radAge=1&txtStudentLoan=0&imageField.x=32&imageField.y=9

Trial and error and £76,032.34 yields exactly £50,000.00 !

(Sorry for format below, don't know how to tabulate here)

---

Annually
Gross Income

---

£76,032.34
Tax-Free Allowance

---

£4,745.00
Taxable Amount

---

£71,287.34
Tax

---

£22,620.54
National Insurance

---

£3,411.80
Net Take-Home

---

£50,000.00

YorkshireBoy

simon_lse wrote:

£76,033 give or take

pin wrote:

plugged in the £76k fig and:

http://www.i-resign.com/uk/financia...&imageField.y=9

ffacoffipawb wrote:

Trial and error and £76,032.34 yields exactly £50,000.00 !

(Sorry for format below, don't know how to tabulate here)

---

Annually
Gross Income

---

£76,032.34
Tax-Free Allowance

---

£4,745.00
Taxable Amount

---

£71,287.34
Tax

---

£22,620.54
National Insurance

---

£3,411.80
Net Take-Home

---

£50,000.00

Unfortunately you've all missed the fact that the calculator is based on a previous tax year...

"This calculator is based on the New income tax rates and rules, and National Insurance rates for the UK in the budget of 2004."

I'm not sure of changes to NI for 2005/06, but the current tax free allowance is £4,895.

sharpey79gfc

This link below will work out the gross pay if you enter the net figure, by week, month or annually, you can also put in different tax codes etc and is up to date for 05-06 tax year.

This gives a gross pay of £76,067.64 based on the regular tax code of 489L

http://www.netpaydue.com/20052006/jsp/HomePage/quickcalnet.jsp