Income Tax YTD / Tax Bands

Dazed_and_confused

All I need to workout is how much I will receive in net pay (after tax, NI and deductions) each month until April to help me budget for some upcoming events.

My logic? I am here asking for help, not trying to impart advice or logic on others. This is the primary purpose of the forum - to support and help others.

I don't know how to translate the figures from the manual PAYE calculation into the the bottom line of how much I will receive in my bank for the next three months - this is what I need to calculate and I'm finding it difficult

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Well why not post your December payslip details along with the date you will be paid in January?

That information, along with the previous comments confirming your expected monthly pay from now on, should be sufficient to do what you want.

There may be more questions once the payslip details are provided.

Dazed_and_confused

One question, would the 41% not disappear completely as none of my monthly earnings would be taxed at that amount and the 21% rate has already been applied in the calculation?

In the current year yes (based on what you've posted so far).

But the whole of your income still needs to be taxed, you cannot just not tax a large part of your income (which falls above the Personal Allowance) which is what you appear to be suggesting.

sgx.saint

Dazed_and_confused wrote: »

.

Well why not post your December payslip details along with the date you will be paid in January?

That information, along with the previous comments confirming your expected monthly pay from now on, should be sufficient to do what you want.

There may be more questions once the payslip details are provided.

https://imgur.com/a/V2GLTFI

Done!

chrisbur

sgx.saint wrote: »

Thanks Chris.

One question, would the 41% not disappear completely as none of my monthly earnings would be taxed at that amount and the 21% rate has already been applied in the calculation?

No it cannot disappear it has to be moved into the correct band.
Your calculation has 166.68 paying 19% 845.85 paying 20% 1619.19 paying 21% and 857.07 paying at 41%
If you are not due to pay any 41% then the 857.07 goes with the 1619.19 all to be taxed at 21%

Just noticed another problem with your calculation. You have entered a pension figure of £110 into the calculator. The figures you have are not what you will get on your payslip. From what you said earlier your pension is Relief at Source and the calculator is assuming the Net Pay Arrangement. To get your payslip figure you need to ignore the pension details so your tax will be higher, this higher tax will then be mainly paid into your pension fund to increase the £110 deducted from your net pay, and you can reclaim that odd 1% I mentioned earlier.
To get your payslip figure remove the pension figure from the calculator and take the 41% tax figure and convert to 21%

sgx.saint

Thanks Chris, I've posted my last payslip above if that helps drill down to more accurate figures.

https://imgur.com/a/V2GLTFI

chrisbur

Can you post period 8 as well then I can tell which pension type you are in and if the expenses are affecting tax.

sgx.saint

chrisbur wrote: »

Can you post period 8 as well then I can tell which pension type you are in and if the expenses are affecting tax.

Sure thing.

https://imgur.com/gTietAf

Thanks

chrisbur

Sorry also need the P45 gross and tax figures from last employment.

sgx.saint

chrisbur wrote: »

Sorry also need the P45 gross and tax figures from last employment.

Sure.

£15,941.85 - Total pay to date
£1812.49 - Total tax to date

Appreciate all your help.

chrisbur

In theory if I take the pay to date from the P45 and add it to the pay to date on the period 8 payslip I get the total taxable pay to date. I then deduct it from the taxable pay to date on period 9 payslip and I get the taxable pay for period 9. This comes to 4588.01 and your pay for period 9 comes to 4587.91 a difference of 10p
Not a great deal (perhaps a small error when the P45 was entered) so I think that we can assume that neither the pension nor the expenses are affecting the tax; you are paying tax on the full amount of your gross pay.
I have entered the gross of £4587.91 into the HMRC tax calculator and that gives a tax figure of £744.21. NI and student loan will be the same as for month 9 I would assume pension and health shield would be the same also cannot say about the expenses. Tax will continue like this for the rest of the tax year though may vary by a few pence some months.
Your pension is definitely being taken from your net pay so you will have more money added to your pension pot to return tax and you can claim the 1% bit.
If you are wondering why tax was lower for month 9 it was because you were taxed on a month 1 basis for month 8 and because of that you paid some tax at 41% this was converted to 21% for month 9 and reduced your tax figure.