Net salary difference

sultan123

Dazed_and_C0nfused said:

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.

Yes I am interested in my net pay, just explained salary sacrifice so the net difference salary could be calculated.

What would difference between 80k and 88k be please in terms of net salary over 12 months

sultan123

I am surprised at how low overall net pay is despite a 7k uplift in overall gross pay. Must be due to NI increase?

Dazed_and_C0nfused

sultan123 said:

I am surprised at how low overall net pay is despite a 7k uplift in overall gross pay. Must be due to NI increase?

Unless you personally have made very large pension contributions to a personal pension or SIPP then the whole lot is subject to 40% tax and (from 6 April 2022) 3.25% NI so it really tax that is the main reason.

And of course it's not really £7,000 it's only £6,650.  With £350 extra in your pension fund.

sultan123

Dazed_and_C0nfused said:

sultan123 said:

I am surprised at how low overall net pay is despite a 7k uplift in overall gross pay. Must be due to NI increase?

Unless you personally have made very large pension contributions to a personal pension or SIPP then the whole lot is subject to 40% tax and (from 6 April 2022) 3.25% NI so it really tax that is the main reason.

And of course it's not really £7,000 it's only £6,650.  With £350 extra in your pension fund.

Thank you. What about difference between 80k and 88k

sultan123

Difference in ney pay over 12 months please

DingDongitsKingKong

sultan123 said:

Difference in ney pay over 12 months please

 £4400 in 21/22

sultan123

DingDongitsKingKong said:

sultan123 said:

Difference in ney pay over 12 months please

 £4400 in 21/22

How has this been worked out and is this from april 2022?

JGB1955

£4,313 In 2022/23.  £7,600 x 56.75%

sultan123

JGB1955 said:

£4,313 In 2022/23.  £7,600 x 56.75%

Please could you explain this calculation, I assume this is for net difference between 80k and 88k

Dazed_and_C0nfused

JGB1955 said:

£4,313 In 2022/23.  £7,600 x 56.75%

That is ignoring the 5% sacrificed into a pension though.