gross pay and taxable pay

sullly

speaking to a friend at work and his 52nd week wage slip shows his total ytd gross pay is the same as his total ytd taxable pay , surely this is wrong ,

his earnings are £17,930.35

how much tax and insurance should he have paid on this amount ,

cheers in advance

jimclark1967

0% on first £4,895 = £0.00
10% on next £2,090 = £209.00
22% on next £10,945.35 = £2,407.98

Total tax = £2,616.98

It's all "taxable" but the first bit is "taxed" at 0% :beer:

JC

sullly

jimclark1967 wrote:

0% on first £4,895 = £0.00
10% on next £2,090 = £209.00
22% on next £10,945.35 = £2,407.98

Total tax = £2,616.98

It's all "taxable" but the first bit is "taxed" at 0% :beer:

JC

thats about right then .

cheers

Chippy_Minton

Employee NIC = £1433.89

Bossyboots

jimclark1967 wrote:

It's all "taxable" but the first bit is "taxed" at 0% :beer:

JC

Thats what I was going to say.

jimclark1967

Chippy_Minton wrote:

Employee NIC = £1433.89

Indeed, but the politicians would have us believe that NICs aren't actually tax :rolleyes:

JC

moonrakerz

jimclark1967 wrote:

Indeed, but the politicians would have us believe that NICs aren't actually tax :rolleyes:

JC

Course they're not ! That nice Mr Brown said so when he put a penny on NI - he said that wasn't a tax increase - so that's OK.

Mikeyorks

sullly wrote:

speaking to a friend at work and his 52nd week wage slip shows his total ytd gross pay is the same as his total ytd taxable pay , surely this is wrong ,

No. It's correct unless he has some pay (eg a pension contribution) which is non-taxable. In which case the 'gross' and 'taxable' would be different by that value. And will also reflect that way on his P60.