Please could someone help me work the tax out?

princessamy86

Hi :hello:

New to this part of the forum, I was wondering if someone could help me work out where the cut off point is for me working extra hours? Basically, I worked an extra 44 hours last month and only came out £100 better off. I would like to know how many hours extra to work before it starts to not be worth it if that makes sense? I don't have a clue where to start and my maths is terrible, if you need more info than I have posted please let me know.

I am contracted to do 28 hours per week at £5.80 an hour, which amounts to 3 and a half days. I've been working 5 full days a week (8 hours per day). Extra hours don't get paid on overtime, they are just at the regular rate of £5.80. Can somebody clever help me with working it out? If you need more info please let me know.

Thanks in advance.

KyleG454

How are you paid? (ie. which weeks are you paid in which months or are you paid weekly?)

TM1976

You are always better of for doing the extra hours than not doing them. You are just under the tax threshold of £6,475 so only start paying tax when you earn more than that.

Basically for what you earn above the £6,475 annual allowance you will get to keep around 70% of that amount but your £6,475 is always tax free.

CLAPTON

maybe you could clarify your figures

in months where you only work 28 hours per week
how many hours do you work
what is your gross pay for the month
how much tax do you pay
how much NI do you pay
what is you tax code

for your lastest month
how many hours did you work in total
how much was your gross pay
how much tax did you pay
how much NI did you pay
was is your taxcode.

princessamy86

I will clarify all those for you when I get home Clapton, I don't have my wageslips with me. Thanks.

chrisbur

Also can you advise what your tax code is; assuming no mistakes the only way you could have had so little net from this extra is with a K code.

ioscorpio

http://listentotaxman.com/

keith1950

As you earn above the tax threshold of 6470 ( £539/month ), for every extra pound you earn you will lose approximately a third. So for your 44 extra hours last month you should have earned approx. £255 and therefore taken home an extra £170. Why you only had an extra £100 I don't know-perhaps you could post your actual figures. I assume you do have the full tax allowance of 6470 .