Hi, just looking on the Direct.gov website and nearly every job they have on there say something like "£8.15 per Hour", but what i'd like to know is, is this BEFORE or AFTER tax ??.
So if it says "£8.15 per Hour" and it is a 37 hour a week job, then does this mean i will get £8.15 x 37 = £301.55 a week, or does tax have to come off this figure ?
Cheers for the answer, much appreciated... i'm probably thick, but i assumed tax was 20p in the £, so wasn't sure if they used 20% as a ballpark figure to give people a better idea of what the wage really meant to them.
Some people have other income so already pay income tax - it may push them in to the higher rate.
Over 65s have a higher personal allowance too which affects the amount of tax they pay.
So do you reckon for the average Joe that if it says £10 an hour, and it's for, say 40 hours a week, you'd get £8 (£10 - 20%) x 40 = £320 (ish) ?, Regards, Andy
All salries are quoted as gross- that is before tax.
There are lots of sites that will estimate net pay after deduction of tax and NI- just google NET PAY CALCULATOR
Ah very good, hadn't realised there were Net Pay Calculators on-line, hadn't really thought about it to be honest!. Cheers!..... being made redundant this Friday so good to know i can work it out now!
Don't forget that in addition to income tax there is also National Insurance to pay. As a useful rule of thumb, for a basic rate taxpayer, subtract a third from the figure to get the take-home pay.
Bloody 'ell, Mike. That's a bit excessive!
It makes no allowance for the amount which you can earn tax free (and NI free).
A better 'rule of thumb' guide is that you get to keep the first £125 of what you earn each week, with the government taking roughly a third of everything after that.