Maximum Income Before 40%

CLAPTON

Parnott wrote: »

Hi Clapton,

I removed the car benefit from my allowance (thinking my tax free amount should fall since I will have a car) but you added it on to my salary. (is this basically the same) and where does the 5715 come from?

Thanks.

nothing is simple

NI follows different rules to tax
NI is based on gross salary including benefits in kind
the allowance is 5715 (and not 6475 which is the tax allowance)
for NI you dont deduct pension payments either


simple ?

Cortinaa_GTR

Mmm ok thanks.

Does everything look within the ball park then? I should be within £100 either way off my net wage calculation which is what I'm really trying to figure out to see what I can budget for with the new job?

JimmyTheWig

Parnott wrote: »

Hi Jimmy,

I thought I had taken my 5% or 2k per annum pension off at the top which gave me the taxable income figure to work from?

D'oh! So you had.

Cortinaa_GTR

LOL, no worries! :-)