Payslip help

AAMB

Good Afternoon, 


I Was hoping someone could help me work out a query with my payslip

I get 1750 a month gross a month with myself paying into a pension of 49.20
so it looks like this 

Basic Pay.                     1750.00
income tax                    140.40
National Insurance.       114.36
Aviva                              49.20

total deduction               303.96

Total net pay is 1476.16

my query is when I've put this into any salary calculator i seem to a slightly higher figure by pounds?

the figure I am receiving is 1499.89.

Am i overthinking this ?

Marcon

AAMB said:

Good Afternoon, 


I Was hoping someone could help me work out a query with my payslip

I get 1750 a month gross a month with myself paying into a pension of 49.20
so it looks like this 

Basic Pay.                     1750.00
income tax                    140.40
National Insurance.       114.36
Aviva                              49.20

total deduction               303.96

Total net pay is 1476.16

my query is when I've put this into any salary calculator i seem to a slightly higher figure by pounds?

the figure I am receiving is 1499.89.

Am i overthinking this ?

The figures don't add up.

Basic Pay.                     1750.00
income tax                    140.40
National Insurance.       114.36
Aviva                              49.20

total deduction               303.96

Total net pay is 1476.16 [but I'd expect it to be £1,750 - £303.96 = £1,446.04]

Neither of those tallies with the £1,499.89 you are actually receiving. Maybe a word with payroll?

sammyjammy

might the calculator take account of this months NI reduction?

la531983

sammyjammy said:

might the calculator take account of this months NI reduction?

That is likely the explanation given the difference. 

zagfles

NI is wrong regardless, it's far too high. Should be (1750-1048) times either 0.12 or 0.1

If NI at 12% is used it comes to £84.24 which makes the 1476.16 quoted net pay spot on to the penny.  Tax looks right for a normal 1257L tax code. Assuming the pension is RAS ie deducted from after tax/NI pay and the pension provider claims basic rate relief.

But as to why the actual amount paid is different to the net pay on the payslip???

 

chrisbur

AAMB said:

Good Afternoon, 


I Was hoping someone could help me work out a query with my payslip

I get 1750 a month gross a month with myself paying into a pension of 49.20
so it looks like this 

Basic Pay.                     1750.00
income tax                    140.40
National Insurance.       114.36
Aviva                              49.20

total deduction               303.96

Total net pay is 1476.16

my query is when I've put this into any salary calculator i seem to a slightly higher figure by pounds?

the figure I am receiving is 1499.89.

Am i overthinking this ?

Assuming your tax code is the standard ie 1257L and NI is A rate then your tax is correct; but your NI figure is far to high.  To pay this you would need a gross of about 2000 or 2190  depending on if the payday was before of after the NI change.  
Is there anything else on your payslip apart from these figures
Does your payslip have year to date figures these might throw some light on the reason for the high NI.

easy

As well as basic pay do you receive any non- taxable pay  (working from home allowance for example)?

AAMB

Sorry I should of been more clearer 

I’m receiving 1476.16 a month 

no other jobs or taxable allowances etc 

just a bog standard job 

there’s nothing on my payslip that suggest anything is wrong. 

I know I’m paying 49.20 into a Aviva pension as that comes up aswell as the NI and tax payments.

when I type into the salary calculator the figures I’m getting a lower tax figure. I’m trying to figure out who I should contact- my management company or HMRC

Dazed_and_C0nfused

AAMB said:

Sorry I should of been more clearer 

I’m receiving 1476.16 a month 

no other jobs or taxable allowances etc 

just a bog standard job 

there’s nothing on my payslip that suggest anything is wrong. 

I know I’m paying 49.20 into a Aviva pension as that comes up aswell as the NI and tax payments.

when I type into the salary calculator the figures I’m getting a lower tax figure. I’m trying to figure out who I should contact- my management company or HMRC

Salary calculators, particularly when pension contributions are a factor, are only any use if you fully understand how they work.

If your Aviva pension is a ""relief at source" scheme then the pension contributions won't save you any tax at all.  But Aviva will add £12.30 to your pension each month (25% of your contribution).

SiliconChip

One thing that we don't know is your tax code, is it 1257L or something else? I assume your pension contribution is  4%.

I'm guessing that you may be using thesalarycalculator as it gives a pension contribution of £49.20 and a net pay of £1499.89 (the same figure that you quote), but the tax is £130.66 and NI £70.25, both lower figures than those on your payslip. I can't explain the differences but hopefully those with a better knowledge of payroll than me can.

AAMB

Hi SiliconChip

That what I was trying to understand really- as you guess correctly I’m on the 1257L tax code and I know I’m paying 49.20 for sure toward my Aviva pension and the mangement I believe it’s around 36.something contribution, I’m useless with stuff like this and probably shouldn’t of touched the salary calculator! Haha.

Dazed_and confused above mentioned something about relief at source so I’m assuming it has to with that somehow. 

Cheers