Can anybody check my calculation?

[kimberlyc]

Annual salary pre tax £20,430

20.5 hours at double time
2 hours at single time

my calculation for take home pay after tax circa £1,848.

is this correct?

 

[Monkeymagic85]

There’s a salary calculator online that is spot on, just Google it

 

[kimberlyc]

My DH says my calculation is incorrect! So I’m hugely confused now..

 

[Monkeymagic85]

The Salary Calculator - Take-Home tax calculator

The Salary Calculator tells you monthly take-home, or annual earnings, considering UK Tax, National Insurance and Student Loan. The latest budget information from April 2024 is used to show you exactly what you need to know. Hourly rates, weekly pay and bonuses are also catered for. Why not find...

www.thesalarycalculator.co.uk

honestly this is spot on, you can put overtime etc in

 

[kimberlyc]

The Salary Calculator - Take-Home tax calculator

The Salary Calculator tells you monthly take-home, or annual earnings, considering UK Tax, National Insurance and Student Loan. The latest budget information from April 2024 is used to show you exactly what you need to know. Hourly rates, weekly pay and bonuses are also catered for. Why not find...

www.thesalarycalculator.co.uk

honestly this is spot on, you can put overtime etc in

this is what I said to DH. I have put in the 20 hours at x2 and the hours at single time. His argument was it’s incorrect to put the hours in at x2 as this would be essentially tripling my hourly rate. Difficult to explain but I think i know what he means?

 

[Monkeymagic85]

this is what I said to DH. I have put in the 20 hours at x2 and the hours at single time. His argument was it’s incorrect to put the hours in at x2 as this would be essentially tripling my hourly rate. Difficult to explain but I think i know what he means?

I have no idea but I work part time and it has always been spot on for me. Could you check with your employer?

 

[kimberlyc]

I have no idea but I work part time and it has always been spot on for me. Could you check with your employer?

I think I’ll just have to wait and see for my payslip. I was trying to plan ahead as I have an expensive month coming up but now I’ve got no idea what is right or wrong

 

[MsGilmore]

It would depend on how much tax and NI is deducted (if any), and any other deductions. It’s probably best to check your payslip.

 

[kimberlyc]

It would depend on how much tax and NI is deducted (if any), and any other deductions. It’s probably best to check your payslip.

I have a standard tax code, think it’s 1257L. It’s just the double tile thing that confuses me

 

[WhatABore]

Annual salary pre tax £20,430

20.5 hours at double time
2 hours at single time

my calculation for take home pay after tax circa £1,848.

is this correct?

I'm not 100% sure what you mean by 20.5 hours at double time?
As in double pay?

For that annual salary though, this is what it will be. Take home pay is at the bottom

 

[Tommyb]

Annual salary pre tax £20,430

20.5 hours at double time
2 hours at single time

my calculation for take home pay after tax circa £1,848.

is this correct?

How many hours do you do a week?

So your hourly rate would usually be worked out as:

20430/260= day rate/working hours per day.

So if you do a 40 hour week it would be 20430/260= £78.58 per day / 8 hours a day = £9.82 per hour


So salary before tax = 1702.50
20.5 x 19.64 = 402.62
2 X 9.82 = 19.64
Total 2124.76
Tax at 20% on taxable income = 215.47
NI= 129.28
Net pay = 1,780.10