Overtime tax

e.m.hill

Hi money saving experts! I’m desperate to find out what the net take home will be on my wages at the end of this month as I have done an extra 30 hours of overtime last month at time and a half plus an extra £100 incentive for doing 30hours from company my yearly salary is £16000 and I work 35 hours a week. I cant find a calculator anywhere on the net to work this one months overtime + student loan contributions (maybe I’m just not looking in the right place) I’m using the money to do my xmas shopping and want to know how much I will have to spend.
Any help appreciated, I’m sure it’s easy if you know how.
Thanks

iamana1ias

£16000/52 weeks/35 hours = £8.79 per hour.

30 hours @ 1.5 time = £395.60

Plus £100 incentive = £495.60

Guestimate tax and NI and student loan by knocking off 35% = £173.46

You'll have roughly £322.14 extra.

mrkbrrws

You appear to be well within the basic rate band, so deductions will be 20% PAYE Income Tax, 11% National Insurance Contributions and 9% Student Loan Repayment.

Totalling 40%, so you should receive extra net pay of approximately £495.60 x 60% = £297.36.

iamana1ias

mrkbrrws wrote: »

You appear to be well within the basic rate band, so deductions will be 20% PAYE Income Tax, 11% National Insurance Contributions and 9% Student Loan Repayment.

Totalling 40%, so you should receive extra net pay of approximately £495.60 x 60% = £297.36.

Thank you. I wasn't sure how much the student loans were

John_Pierpoint

jimmo wrote: »

In the Civil Service people in London work a 35 hr week. In the rest of the country it is 37 hours. However they are paid for 40 and 42 hours respectively.
That can make quite a difference when you do overtime.

Hi Jimmo,
I don't understand your posting and I've got this strange feeling that I've flipped into a looking glass world with Alice.
"Work in London and get paid an hour a day travel time?"
Is this from the House of Commons school of accounting?
John.

Let's keep the numbers simple
The worker is being paid 10 GBP per hour but is allowed to "skive off" off an hour early in London and still collect 400 GBP a week. Roughly 11.43 per hour actually worked.
However if the hard worker stays and does an extra hour, they don't do it for free, but get paid time and a half (third?) or just basic rate of 15.00 GBP, 13.33 GBP, or 10GBP ?
Is this in lieu of a London weighting allowance?

John_Pierpoint

I can remember when Civil Servants worked on Saturday mornings, seemingly as a matter of course.
In my time in private "industry" I have been paid time and a third (engineering) and time and a half (chemicals) for week day overtime (and in this latter case a relatively generous tax free meal allowance after 2 hours - nobody worked 1.5 hours overtime!). Time and a half on Saturdays and double time on Sundays.
I've also worked on flexitime - which was probably in the company's interest as "appointments" were expected to be taken outside of core hours of 10 to 4 (Though every month there were several "social" members of staff sitting drinking coffee round the time clocks during the last few days of the month quite late in the evening.
My experience is that terms in the private sector got much tougher in the 1990's and flexitime went out of favour - no smoking, no drinking, no lunch time celebrations, no fun: back to driven payment by results attitudes from sweatshops, even for white collar managerial grades.
That is a former London commuter speaking.