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Net salary difference
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sultan123
Posts: 441 Forumite

Can anyone tell me the net yearly difference
0
Comments
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If paid evenly through the year then it's going to be something like this,
Real extra salary = £6,650
Less tax = £2,660
Less NI = £216
Net pay = £3,774
All the above assumes,
1) Not Scottish resident for tax purposes
2) The extra pay won't take adjusted net income over £100k
3) High Income Child Benefit Charge isn't involved
4) No student loan deductions0 -
Dazed_and_C0nfused said:If paid evenly through the year then it's going to be something like this,
Real extra salary = £6,650
Less tax = £2,660
Less NI = £216
Net pay = £3,774
All the above assumes,
1) Not Scottish resident for tax purposes
2) The extra pay won't take adjusted net income over £100k
3) High Income Child Benefit Charge isn't involved
4) No student loan deductions0 -
Also is there any difference in net pay between 2022 and then 2023 due to tax year tweaks?0
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sultan123 said:Dazed_and_C0nfused said:If paid evenly through the year then it's going to be something like this,
Real extra salary = £6,650
Less tax = £2,660
Less NI = £216
Net pay = £3,774
All the above assumes,
1) Not Scottish resident for tax purposes
2) The extra pay won't take adjusted net income over £100k
3) High Income Child Benefit Charge isn't involved
4) No student loan deductions
£6,650 less tax of £2,660 and NI of £216 = £3,774.
The NI figure is for the forthcoming tax year (3.25% rather than 2%).0 -
sultan123 said:Also is there any difference in net pay between 2022 and then 2023 due to tax year tweaks?
In your example there will be no tax change between 2021:22 and 2022:23.0 -
sultan123 said:Isn't it less than £3774 due to 5% salary sacrifice
£7k x 0.95 = £6,650. The remaining 5% was salary sacrifice pension.0 -
Try this: https://www.thesalarycalculator.co.uk/salary.php
You can include salary sacrifice to get the comparisons you're looking for.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1 -
Dazed_and_C0nfused said:sultan123 said:Dazed_and_C0nfused said:If paid evenly through the year then it's going to be something like this,
Real extra salary = £6,650
Less tax = £2,660
Less NI = £216
Net pay = £3,774
All the above assumes,
1) Not Scottish resident for tax purposes
2) The extra pay won't take adjusted net income over £100k
3) High Income Child Benefit Charge isn't involved
4) No student loan deductions
£6,650 less tax of £2,660 and NI of £216 = £3,774.
The NI figure is for the forthcoming tax year (3.25% rather than 2%).
What would difference be between 80k and 88k please in overall annual take home.
Thanks for your help.0 -
Marcon said:Try this: https://www.thesalarycalculator.co.uk/salary.php
You can include salary sacrifice to get the comparisons you're looking for.0 -
Your post is about net pay.
Salary sacrifice is where you agree to give up part of your salary in return for your employer contributing more to your pension.
So other than reducing the £7,000 to £6,650 it has no bearing on your net pay.0
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