Tax and N.I Question

Stavros_3

Can someone with a better brain than myself help please
My daughter who is a basic rate tax payer has been offered a position that pays £24,400 a year GROSS
What will her monthly NET take home pay be after income tax and National insurance deductions

many thanks

iNath

If I've worked it out correctly I think she should get £18,336 per year, which is £1,528 per month. I used tax code 522L, I think this is correct?

http://www.listentotaxman.com/index.php?calc=1&year=2007&age=0&add=0&taxcode=522L&period=1&ingr=24400&Submit=Calculate

If I'm wrong I'm sure someone more qualified will be along soon to correct me

jiggy2

the actual amount will depend on whether she has had any income from Apr 07 to Jan 08 (as the PAYE tax payable will depend on this).

However assuming that she had been on £24,400 for the whole tax year 2007/08 (06 April 07 to 05 April 08) - the monthly net pay will be £1528

Total income - £24,400
Income tax thereon:
Tax code used - 522L (tax free)
next 2230 @ 10% = £223
next 16945 @ 22% = £3727.90

NI - £5200 (upto primary threshold)
Balance of £19,200 @ 11% = £2112

Net pay of PAYE and Class 1 Employee NIC = £18337 per annum.