Tax on overtime help please

Francescaw

I had £1130.25 worth of overtime and i have been taxed £610.40, NI £366.37 and £143.21 for pension leaving me £10.37 is this right?

Dazed_and_C0nfused

Doubtful but what tax code was used and was this added to other income on your payslip?

Francescaw

1257l. Yes it was added to normal income of £2790.00

So £2790.00 + £1130.25 overtime i was deducted £610.40, NI £366.37 and £143.21 for pension leaving me £10.37 in overtime! so my total wage was £2980.37. an extra £10.37 for 68.5 hours of overtime.

Francescaw

sorry normal income £2970.00

Wonka_2

Francescaw said:

sorry normal income £2970.00

Which in itself would normally have been taxed.

Others will work the numbers based on your tax code but in purely illustrative terms you may have normally paid £600 tax/NI/pension on your £2970 and you've paid another £500 tax/NI/pension on your overtime.

Do you have a previous payslip showing the deductions on the £2970 to prove the point or is it a new job ?

Francescaw

I had a payrise this month so previous months are different

Francescaw

just seems crazy to work that mount of overtime to only get £10.37 at the end of it!

molerat

Back of a fag packet calculation. On £2970 you would pay £384.40 tax & £230.64 NI taking home £2354.96, on £4100 you would pay £610.20 tax and £366.24 NI taking home £3123.56 so £768.60 of the £1130 overtime in your pocket.

chrisbur

Francescaw said:

I had a payrise this month so previous months are different

In which case how are you calculating the tax/NI etc that has been paid on the £2970 your new basic salary.
Is it possible that you have over-estimated the net value to you of your pay increase?

penners324

You weren't going to get £2970 in your bank on a salary of £2970.

Look like your £768 up due to that overtime