What IS my take home pay?!

Saver-Rob

This may seem a strange question. My current salary is £21,561 but due to the amount of overtime I do I have never actually had a 'flat month'. I have no real idea of exactly what I would take home if worst comes to worst and I get no overtime for a month.

So on tax code 603L what would my take home pay be on £21,561 /year?

Thanks for all who can help.

EDIT UPDATE: I have found this tool: http://www.listentotaxman.com/ which seems to calculate my take home monthly minus my pension contribution to be £1,390.39.Does that sound about right to people? I had previously attempted to work it out and thought it would be around £1400 / month, so not far off.

fengirl_2

Annual pay 21, 561 = 1796.75 pm
MOnthly tax free 503.25
Taxable 1293.50 @ 20% = 258.60 Tax

NIC - monthly pay 1796.75
NIC free 452.91
NIC 11% x 1344 = 147.84
Total deductions 406.44

Net pay 1796.85 - 406.44 = 1390.41
(done without the aid of a computer, so pence difference)

if you pay into a company pension scheme, this has to be deducted before PAYE is applied.

Debt_Free_Chick

Part of the problem is that employers could only pay into an occupational scheme, in the past. Such contributions were deducted from gross pay, with the result that tax was calculated on gross pay AFTER deduction of the pension contribution and also AFTER deduction of the personal allowance.

Now, employer's can contribute to a personal or stakeholder pension. In this case, contributions are paid net of basic rate tax, so they come off net pay i.e. tax is based on gross pay less the personal allowance and the pension contributions are ignored.

If your pension contribution is £100 per month, then £80 would be deducted from your net pay i.e. £100 less a deduction for the basic rate of tax.

All of this is "neutral" for the basic rate taxpayer.

For the higher rate taxpayer it's crucial to understand that your contributions to a personal or stakeholder plan are made net of basic rate tax only - you have to claim the difference between the basic and higher rate via your tax return and/or an adjustment to your tax code.

The Treasury and HMRC are into "simplification" - yeah, right

Saver-Rob

Well I cant pretend to understand it all but I am grateful for the replies. But the main thing is I can see what my pay would be if I do have a flat month - God forbid!