New job Tax bracket to choose

Gordyb

OK I have a possible job offer but did not know the wage to choose.
Wage offered is between 37-42 pa so which one do I choose, if I go above 40 000 then I pay huge amount of tax don't i

Thanks for advice.

BoGoF

Are you sure you can command a salary like that with logic like that?

Dazed_and_confused

If this is your only taxable income then £37,000 is the best salary if you want to minimise the amount of tax paid.

If you go for the £42,000 then you will be paying an extra £1,000 in tax :eek:. Plus extra National Insurance. Plus possibly extra pension contributions and student loan repayments.

glider3560

Gordyb wrote: »

OK I have a possible job offer but did not know the wage to choose.
Wage offered is between 37-42 pa so which one do I choose, if I go above 40 000 then I pay huge amount of tax don't i

Thanks for advice.

It took literally 3 seconds of Googling to find a tax calculator.

Assuming nothing strange, no pension contributions and tax code of 1250L, then:

£37k is £2,391.32 take home each month (£408.33 tax, £283.68 NI)
£42k is £2,674.65 take home each month (£491.67 tax, £333.68 NI)

Rather unsurprisingly, the higher salary results in more tax and higher net pay.

Gordyb

BoGoF wrote: »

Are you sure you can command a salary like that with logic like that?

Bogof jesus get over yourself, it's a simple question regarding how my h tax I would pay and yes a simple Google search does show various pay I just wanted to know if its worth taking the pay above 40G...but hey you continue to be a helpful !!!!.

Gordyb

Dazed_and_confused wrote: »

If this is your only taxable income then £37,000 is the best salary if you want to minimise the amount of tax paid.

If you go for the £42,000 then you will be paying an extra £1,000 in tax :eek:. Plus extra National Insurance. Plus possibly extra pension contributions and student loan repayments.

Thanks Dazed just the info I wanted to know, shame the other idiot couldn't have used his somewhat limited patience to do the same eh. :rotfl:

Dazed_and_confused

Not sure if you are being serious or sarcastic?

dale_cotterill

Dazed_and_confused wrote: »

Not sure if you are being serious or sarcastic?

He's been enitely serious, you have literally just sent someone off to negotiate down their salary :rotfl:

00ec25

Gordyb wrote: »

Thanks Dazed just the info I wanted to know, shame the other idiot couldn't have used his somewhat limited patience to do the same eh. :rotfl:

so given your longer patience what conclusion have you reached as to the size of salary you want since you already found various pay online anyway but seem unable to understand what they mean?

perhaps invest some of the well above average salary in some lessons on personal finance (and maths) ?

comeandgo

So you will choose a £5,000 reduced salary so you don't have to pay £1,000 tax? Why don't you take a £12,000 salary and pay no tax?

Apodemus

Wait a minute...Gordyb? Are you Gordon Brown?

If so, remember that Scottish tax rates are different!