How are the numbers on a P60 calculated

underwurlde

I am interested in how the numbers that appear on a P60 are calculated please. I am interested in the 2015/2016 year.

Are there any usable on-line calculators? I cannot seem to find any.

Kind regards,

Andy

chrisbur

Not sure what numbers you are referring to. Your P60 is just a copy of the tax code, taxable gross, tax and national insurance that appears on your last payslip for the year.

redpete

Googling for "p60 calculator" gives the first hit as an HMRC explanation and calculator.

underwurlde

The numbers I am interested in finding out about appear in boxes called:
Earnings at the LEL >= to LEL
Earnings above the LEL up to and including the PT
Earnings above the PT, up to and including the UAP
Earnings above the UAP, up to and including the UEL

Cheers,

Andy

antrobus

underwurlde wrote: »

The numbers I am interested in finding out about appear in boxes called:
Earnings at the LEL >= to LEL
Earnings above the LEL up to and including the PT
Earnings above the PT, up to and including the UAP
Earnings above the UAP, up to and including the UEL

Cheers,

Andy

Class 1 National Insurance thresholds
https://www.gov.uk/government/publications/rates-and-allowances-national-insurance-contributions/rates-and-allowances-national-insurance-contributions

MichelleUK

underwurlde wrote: »

The numbers I am interested in finding out about appear in boxes called:
Earnings at the LEL >= to LEL
Earnings above the LEL up to and including the PT
Earnings above the PT, up to and including the UAP
Earnings above the UAP, up to and including the UEL

Cheers,

Andy

National insurance contributions are worked out per pay period, so there is no easy way to check the P60 figures for NIC, unlike income tax which is normally calculated on a cumulative basis. This may help you a little with what the parts of your NIC's are and you could check individual payslips using the bands/rates shown here :

https://www.gov.uk/government/publications/tax-and-tax-credit-rates-and-thresholds-for-2015-16/tax-and-tax-credit-rates-and-thresholds-for-2015-16