New Tax thingy

ElmerFudd

May have to save a little money so that I can cover the bills in the next couple of months (ie not put so much of it on the bad CC). I have no idea how the changes to the tax and NI system will effect my pay. Since my pay is much lower than 30k my understanding was that my take home pay would go up slightly. However when I have used the online calculators it looks like I will be worse off by some £15!!! Anyone have any idea? I have tried to contact my payroll department about it but they don't seem to care how serious this is for me (despite me telling them!!!).

Flee_2

I had the same with the calculator on this website, but if you look at your predicted wage from last tax year it will be less than what you actually had. Realistically your wage will increase because of the tax bracket going up, but it will be just a few pounds a month. I looked and mine would be £5 more a month.

ElmerFudd

Thanks Flee, I was getting a bit worried as the next few months will be really tight! Also if it is a few extra quid it'll be gratefully received

natsplatnat

Hi! I have run mine through several 'calculators' and on average I appear to be about £3.00 a week better off (paid weekly!)

Little_bit_dizzy

I think the more you earn the less you will see, but if you earn about £25k you will see an extra £4 per week ish. I've just workied it out for someone who's on £13K and they'll be about £6 per week better off.

Hope that helps

Little_bit_dizzy

Just found the Snowball Calculator has a section for working out take home pay, but it looks like it's not yet been updated for the 11/12 tax year. Check it out though as it might be worth checking back in a week or so to see if it's been updated.

Click here

ElmerFudd

Thanks everyone for helping me out. I'll sleep better at night now