How much tax will I pay?

bigbeff

I don't know if this is the right place to post - I am just trying to work out how much more I will have to pay on debts next month.

I am due a payrise at the end of the month and I will receive £2200 before tax etc. I currently receive £2004. I pay about £100 to pension and proportion to student loan. Any ideas how I'd work out how much I'd actually receive extra?

Thanks in advance

whitewing

Have a play around with this:

http://www.moneysavingexpert.com/tax-calculator/

CLAPTON

a. gross increase is £196 per month

b. less extra pension deduction (assuming its related to your salary but you haven't said)

c. gives taxable pay increaase

d. less 20% tax of taxable pay (c) i.e c x 20%

e. less NI deduction i.e. 11% of (a) above i.e. a x 11%
(assuming you are not opted out of the state second pension otherwise 9.4%

f. less 9% student loan of (a) i.e a x 9%

giving a lot less than you started with

bigbeff

Thanks guys....you have managed to depress me!! Makes you wonder what the point of a payrise is doesn't it!