Joining job halfway through tax year

CA1996

Hi everyone,
I'm starting my first ever job at the beginning of August and the wage is £24,000 a year. According to a standard calculator I should have about £1650 a year after tax. However I've been told that starting halfway through the tax year means I'll have slightly more money because of the tax free allowance- could someone please explain this/tell me how to work out how much I'll have per month until April?

Thanks very much!

CA1996

Sorry I mean £1650 a month, of course!

molerat

Every month you get 1/12th of your tax free allowance. Starting in August means you get the Apr, May, Jun, Jul & Aug tax free allowances against your August pay. A tax code of 1185 gives you £988.26 tax free each month so you will need to earn £4941 in Aug before you pay any tax. On £24K, if you have no other previous taxable income, you will not pay any tax until Nov when you will pay around £18 then around £202 per month from then onwards. You will pay NI of around £155 each month as that is based on each pay packet.

chrisbur

When you start you should be asked to complete a starter checklist or something similar, you should select the A option
"A - This is my first job since last 6 April and I have not been receiving taxable Jobseeker's Allowance, Employment and
Support Allowance, taxable Incapacity Benefit, State or Occupational Pension."
Unless of course you have been receiving any taxable income or benefits in which case the figures given above may be different.

CA1996

Thank you, I've filled out the starter checklist so hopefully it will be correct on my first payslip and I won't have to wait for a rebate!

kidmugsy

CA1996 wrote: »

I'm starting my first ever job at the beginning of August and the wage is £24,000 a year.

My first proper job paid £1105 p.a. On the other hand I could have bought a house for an ice lolly and a bag of crisps.