Calculating take home pay

strawb_shortcake

Not sure this is the right place for my question but hoping it falls under budgeting. 

I've just had confirmation of this year's pay increase, I'm trying to work out how much I'll take home this month. There is an element of  back pay, I don't know how to input this into the calculator I normally use. 

I know I could wait for my pay slip, but I also want to know how to best calculate it. I'm not good with numbers, but I'm trying to get better. I've tried a few different ways and my numbers are all over the place. 

UK salary calculator also said I may £500 less as I will be assumed to be a higher rate tax payer this month.

Old salary £37,495
New salary £42,624
Bonus £1500 
Back pay £1712
Tax code 1383m
Pension 5.45%

Can someone help me please.

Twixty3

If you are getting the bonus this month plus the backdated pay rise I reckon you’ll take home around £4.700  ish.   Don’t hold me to this lol.  

 New salary per month therefore this months pay will be 3552 + 1500 + 1712 = 6764

Rough calculation - 

Deduct pension 5.45% of 6764, apply tax allowance  ( 13830 /12) that gives remaining taxable salary from which the tax /NI is to be calculated .  I used a  32% deduction for tax/ni  which is perhaps not the exact percentage as NI allowance increased this month. 

Penguin_

Only thing I would add is if your pension is subject to minimum & maximum earnings threshold (£520 & £4189 per month) so the 5.45% might be on £3669 rather than the £6764.

Twixty3

Penguin_ said:

Only thing I would add is if your pension is subject to minimum & maximum earnings threshold (£520 & £4189 per month) so the 5.45% might be on £3669 rather than the £6764.

Thanks.  I never thought of that. 

@annabanana82  it might be worth considering boosting your pension contributions in some way,  a pay rise is a good time begin. 

strawb_shortcake

Thank you both. 
No pension contributions on the £1500.

I'm looking at AVC's it'd good timing in one way with the pay rise as my tax credits are just coming to an end, on the other hand I have a a child going to uni. But I've got some time to work out my budget then look at increasing my pension.

Dobbibill

This calculator might give you a ball park figure for your new pay excluding the bonus/back pay element and depending on if you have additional salary sacrifice benefits. 
https://www.moneysavingexpert.com/tax-calculator/