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| *Ostroff, Fair and Company>>>United Kingdom Taxes |
UK question can anyone tell me how much tax & nat ins i pay on 2.800.83? |
UK question can anyone tell me how much tax & nat ins i pay on 2.800.83? You shouldn't have to pay any tax or NI on 拢2,800.83 (if that is 1 year's gross pay) as it is below the personal allowance of 拢4895 (for 05/06) and below the NI threshold of 拢4264 where you have to start paying. If it is per month, and you were earning that every month then you would have a gross pay of 拢33,609.96. Under a single person's allowance, 拢28,714 of that is taxable (you don't pay tax on the personal allowance). You would therefore pay a total of 拢220 at the starting rate tax (10%) and 拢5857.49 on the basic rate (22%) making total 拢6066.49 tax for the year. For NI, I think it's 11% of your gross pay minus the threshold mentioned above. That's 拢3228. In conclusion, your net pay is Gross - Tax - NI = 拢24,315 Source(s): I have built excel spreadsheets to work this stuff out. Oh I have found a nice caclulator here on the web. Comes out at very near my answers too. http://www.listentotaxman.com/index.php?... is that 拢2,800.83p? if it is you don't need to pay any tax or N.I....unless its extra earnings! Depends what your tax code is, are you asking for this tax year 2005/2006 or last year? Suggest you go to Revenue website where you will find the rates and allowances |
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