Is it possible to see what you could've earned pre-tax code change?

B0bbyEwing

BR-tax payer before we kick off.

So approx 75% in to the tax year my code gets changed due to unpaid tax on interest earned.

I was 12.x.L whatever the x number is. I've been changed to 10.x.XL I think the code is. I'd need to check a payslip but I don't imagine it matters for the question as the point is the same.

So obviously when I get my payslip, the net figure is lower than it would've been had I earned under £1k in interest & not over it.

I'm curious what my net figure would've been in these months - to see how much this tax on interest is actually costing me.

Is there some kind of formula or calculator that easily does it or do you need to start pulling information from 1001 different areas & it's a long drawn out affair?

Grumpy_chap

Can you use an online calculator with and without the interest?

B0bbyEwing

Had a Google & not quite sure tbh.

I was thinking on the lines of

Marc's pay = £XYZ gross.

The pension contribs are the minimum from both parties.

Put in tax code A = £net

Put in tax code B = £net

Difference is what the interest has cost me.

Or is that not a possible way to do it?

No sarcasm. I just don't know.

Dazed_and_C0nfused

https://forums.moneysavingexpert.com/discussion/6660042/is-it-possible-to-see-what-you-could-039-ve-earned-pre-tax-code-change

If you are interested in what it is actually costing you then, based on what you've posted, simply multiply the difference between your old tax code allowance and new tax code allowances by 20% (using 9 as the final digit to mimick what payroll software does).

For example 12579 less 10829 = £1,750

£1,750 x 20% = £350

Then divide that answer by 12 if you want to know how much that is per month.

£350 ÷ 12 = £29.16

B0bbyEwing

https://forums.moneysavingexpert.com/discussion/comment/81926134#Comment_81926134

So 12630 - 10340 = 2290

Next line £458

/12 = £38.17

If I've done that correct based on tax codes 1263 & 1034