New job Tax bracket to choose

Gordyb
Gordyb Posts: 6 Forumite
in Cutting tax
OK I have a possible job offer but did not know the wage to choose.
Wage offered is between 37-42 pa so which one do I choose, if I go above 40 000 then I pay huge amount of tax don't i

Thanks for advice.
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Comments

  • BoGoF
    BoGoF Posts: 7,099 Forumite
    Name Dropper First Anniversary First Post
    Are you sure you can command a salary like that with logic like that?
  • Dazed_and_confused
    Dazed_and_confused Posts: 6,458 Forumite
    Uniform Washer
    If this is your only taxable income then £37,000 is the best salary if you want to minimise the amount of tax paid.

    If you go for the £42,000 then you will be paying an extra £1,000 in tax :eek:. Plus extra National Insurance. Plus possibly extra pension contributions and student loan repayments.
  • glider3560
    glider3560 Posts: 4,115 Forumite
    Name Dropper First Anniversary First Post
    Gordyb wrote: »
    OK I have a possible job offer but did not know the wage to choose.
    Wage offered is between 37-42 pa so which one do I choose, if I go above 40 000 then I pay huge amount of tax don't i

    Thanks for advice.

    It took literally 3 seconds of Googling to find a tax calculator.

    Assuming nothing strange, no pension contributions and tax code of 1250L, then:

    £37k is £2,391.32 take home each month (£408.33 tax, £283.68 NI)
    £42k is £2,674.65 take home each month (£491.67 tax, £333.68 NI)

    Rather unsurprisingly, the higher salary results in more tax and higher net pay.
  • Gordyb
    Gordyb Posts: 6 Forumite
    BoGoF wrote: »
    Are you sure you can command a salary like that with logic like that?

    Bogof jesus get over yourself, it's a simple question regarding how my h tax I would pay and yes a simple Google search does show various pay I just wanted to know if its worth taking the pay above 40G...but hey you continue to be a helpful !!!!.
  • Gordyb
    Gordyb Posts: 6 Forumite
    Dazed_and_confused wrote: »
    If this is your only taxable income then £37,000 is the best salary if you want to minimise the amount of tax paid.

    If you go for the £42,000 then you will be paying an extra £1,000 in tax :eek:. Plus extra National Insurance. Plus possibly extra pension contributions and student loan repayments.

    Thanks Dazed just the info I wanted to know, shame the other idiot couldn't have used his somewhat limited patience to do the same eh. :rotfl:
  • Dazed_and_confused
    Dazed_and_confused Posts: 6,458 Forumite
    Uniform Washer
    Not sure if you are being serious or sarcastic?
  • dale_cotterill
    dale_cotterill Posts: 134 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    Dazed_and_confused wrote: »
    Not sure if you are being serious or sarcastic?


    He's been enitely serious, you have literally just sent someone off to negotiate down their salary :rotfl:
  • 00ec25
    00ec25 Posts: 9,123 Forumite
    Combo Breaker First Post
    edited 11 September 2019 at 10:39PM
    Gordyb wrote: »
    Thanks Dazed just the info I wanted to know, shame the other idiot couldn't have used his somewhat limited patience to do the same eh. :rotfl:
    so given your longer patience what conclusion have you reached as to the size of salary you want since you already found various pay online anyway but seem unable to understand what they mean?

    perhaps invest some of the well above average salary in some lessons on personal finance (and maths) ?
  • comeandgo
    comeandgo Posts: 5,742 Forumite
    First Anniversary Name Dropper First Post
    So you will choose a £5,000 reduced salary so you don't have to pay £1,000 tax? Why don't you take a £12,000 salary and pay no tax?
  • Apodemus
    Apodemus Posts: 3,384 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    Wait a minute...Gordyb? Are you Gordon Brown?

    If so, remember that Scottish tax rates are different! ;)
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