How to check that my Tax and NI is correct....

Tunstallstoven

Hi all

Being the untrusting anal guy that I am, I like to leave nothing to chance!!! And so I was planning on checking my last few years payslips to ensure the tax and NI deductions are correct.

I've devised a spreadsheet, but before I get entangled in that I wondered if there are any existing methods people can recommend for doing this, and/or if anyone has any tips for me?

Many thanks

Max

creditcardhelp11

Use http://listentotaxman.com/

Tunstallstoven

That's very helpful and a lot easier to use than the spreadsheet I concocted!!! And presumably it is pretty accurate (seems good on first use).

Many thanks for that.

zagfles

Max_Dread wrote: »

That's very helpful and a lot easier to use than the spreadsheet I concocted!!! And presumably it is pretty accurate (seems good on first use).

Many thanks for that.

It works well if you get paid the same every month/week, but it's not a lot of good if your pay varies and you want to work out what you'd get in a particular month. You'd probably find your spreadsheet better in that case - the important point is to remember that PAYE works on a year to date basis, whereas NI works on a pay period basis.

If you're only interested in the annual totals, then the above site will work for tax, and it'll work for NI if your pay was the same every month, but it might not if your pay varied.

Tunstallstoven

My pay does indeed vary from month to month.... However, the utility still seemed to be pretty accurate for annual figures (which is what I was after).

agrinnall

I think it will be accurate if your pay in each period is always above the level at which NI is levied.

zagfles

agrinnall wrote: »

I think it will be accurate if your pay in each period is always above the level at which NI is levied.

It also depends if it ever goes above the UEL (about £3540 a month).

For instance you pay a lot less NI if you have an annual salary of £30,000 plus a £10,000 bonus, than if you have an annual salary of £40,000. Because in the month you get the bonus, you pay NI mostly at 2% instead of 12%.

If monthly pay is always in the range of about 605-3540 then NI will be correct looking just at annual figures.

Tunstallstoven

Thanks for all the really helpful advice.

zagfles wrote: »

If monthly pay is always in the range of about 605-3540 then NI will be correct looking just at annual figures.

Mine is....