why is salary calculator giving me a take home calculation much lower than my actual take home?

Ybe
Ybe Posts: 405 Forumite
Sixth Anniversary 100 Posts Name Dropper
edited 19 November 2023 at 1:02AM in Budgeting & bank accounts
https://www.thesalarycalculator.co.uk/salary.php

Does this website give accurate take home pay calculations?  My actual monthly take home pay is £200 higher than what this calculator suggests it should be and I’m worried my employer is calculating it wrong and I would owe a lot of tax at the end of the year. Can starting a new job 1 month after April  (I.e. in May) cause this? I can’t figure it out - I’ve put in all the pensions, benefits etc. 
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Comments

  • eskbanker
    eskbanker Posts: 36,928 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    There are numerous such calculators but they should all give reasonably accurate outputs that reflect the quality of the inputs (it's not rocket science) - if you share all the relevant figures (including cumulatives, tax codes, etc) then no doubt they can be verified....
  • Shakin_Steve
    Shakin_Steve Posts: 2,812 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 19 November 2023 at 8:37AM
    I have used this calculator a lot over the last couple of years, due to job changes and pay rises. It's always been correct to within a couple of pounds. Public sector pension contributions are easy to input for me, perhaps yours not so easy?
    You need to compare the figures from the salary calculator with a payslip and see where they differ.
    I came into this world with nothing and I've got most of it left.
  • Ybe
    Ybe Posts: 405 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    It’s the tax where It differs. Could it be because I started this job in May? 
  • Are you on the correct tax code?
    If you believe you can, you will. If you believe you can't, you won't.

    Secured/Unsecured loans x 1 
    Credit Cards x 8 (total limit £51,300)
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    Mortgage Outstanding - £138,087.38 (Payment 11/360)
    Total Debt = £1,125.00 (0%APR) @ £112.50pm


  • Have you gone onto advanced options and added the correct tax code and your pension contributions as both will affect the amount of tax you pay
  • Ybe
    Ybe Posts: 405 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    Yes I’ve added tax code, pensions and benefits 
  • Ybe
    Ybe Posts: 405 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    edited 19 November 2023 at 10:27AM
    The taxable income, pension deduction etc all match on my payslip to the calculator. It’s literally the tax that’s very far off. Could it be that my employer’s pay system is calculating it wrong?  I am very concerned about getting a huge bill from HMRC at the end of the year. 
  • p00hsticks
    p00hsticks Posts: 14,353 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Ybe said:
    It’s the tax where It differs. Could it be because I started this job in May? 
    Were you working before May ?
    I can think of two possible scenarios that might explain you paying less tax than you think up to now...

    a) You moved jobs and both your current and previous employers gave you Mays monthly tax allowance - this will have resulted in you underpaying tax.  
    b) You weren''t in a job previously and so Aprils monthly tax allowance was effectively available to be spread over subsequent months by your current employer until you end up paying the correct amount of tax     
  • We're not going to see the actual figures, and quite rightly so, so you need to speak to your payroll and ask them if there's any reason why the figures are so different. People on here can only really guess.
    I came into this world with nothing and I've got most of it left.
  • robatwork
    robatwork Posts: 7,256 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    You don't want to give figures but give us your tax code at least
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