Can anybody check my calculation?

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Tommyb

Chatty Member
kimberlyc said:
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?
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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
 
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kimberlyc

kimberlyc

Chatty Member
Monkeymagic85 said:
I have no idea but I work part time and it has always been spot on for me. Could you check with your employer?
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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 😞
 
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Monkeymagic85

Monkeymagic85

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

VIP Member
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.
 
Monkeymagic85

Monkeymagic85

Chatty Member
www.thesalarycalculator.co.uk

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

kimberlyc

Chatty Member
Monkeymagic85 said:
www.thesalarycalculator.co.uk

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
Click to expand...
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?
 
kimberlyc

kimberlyc

Chatty Member
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?
 
kimberlyc

kimberlyc

Chatty Member
MsGilmore said:
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.
Click to expand...
I have a standard tax code, think it’s 1257L. It’s just the double tile thing that confuses me