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How much tax will I pay?
Palpal
Posts: 11 Forumite
in Cutting tax
Hi guys,
Typically my work has messed up a bonus and my overtime, so it’s all going to hit the same month!
So End of this month I’ll be getting;
1825 basic pay
825 -bonus
300 - overtime
so less than 3000 or around that mark. Normally I’m only getting 1825 (before tax) .
was wondering how much tax I’d get? Or if there’s anything I need to do not too pay too much? I’ve actually done another 160 in overtime, but am
not putting it through until next month because I feel I might get taxed more!
appreciate your replies
many thanks
Typically my work has messed up a bonus and my overtime, so it’s all going to hit the same month!
So End of this month I’ll be getting;
1825 basic pay
825 -bonus
300 - overtime
so less than 3000 or around that mark. Normally I’m only getting 1825 (before tax) .
was wondering how much tax I’d get? Or if there’s anything I need to do not too pay too much? I’ve actually done another 160 in overtime, but am
not putting it through until next month because I feel I might get taxed more!
appreciate your replies
many thanks
0
Comments
-
No more than you would have paid if your overtime had been paid on time as you are a basic rate taxpayer. You haven’t told us your tax code but, if 1257L, your tax will be £380.50. Your NIC will be 258.36. I make that a take home of 2311.14.2
-
Many thanks for this
top man!Tax code 1232L?Sorry I didn’t add this1 -
I’ve read that that means I get medical insurance, which is true.would it be best to put the £160 through this month? As I wouldn’t get tax a higher percentage?
many thanks0 -
A tax code could be 1232L for literally millions of reasons.Palpal said:I’ve read that that means I get medical insurance, which is true.would it be best to put the £160 through this month? As I wouldn’t get tax a higher percentage?
many thanks
Another £160 isn't going to make any difference, you will still be taxed at 20% on anything above £1,027/month.
Only if you average nearly £4,200/month would you move to paying some tax at 40%.0 -
If your tax code is 1232L add about £4 to the figure fur tax that I previously mentioned.0
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