Working out monthly earnings

  • Thread starter Deleted member 221953
  • Start date
D

Deleted member 221953

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Hi all

Been offered a job but I’m trying to work out roughly how much I’d come out with each month.
Do you work it out by: deducting taxable allowance from annual earnings then deducting tax and NI (21%?) then adding taxable allowance back on and then divide by 12?

So for example
£25000-£12500=£12500
£12500-21%=£9875
£9875+12500=£22375
£22375/12=£1865 per month

Am I doing this right?

Cheers
 
Hi all

Been offered a job but I’m trying to work out roughly how much I’d come out with each month.
Do you work it out by: deducting taxable allowance from annual earnings then deducting tax and NI (21%?) then adding taxable allowance back on and then divide by 12?

So for example
£25000-£12500=£12500
£12500-21%=£9875
£9875+12500=£22375
£22375/12=£1865 per month

Am I doing this right?

Cheers
I like to use this. The Salary Calculator - Take-Home tax calculator
 
Hi all

Been offered a job but I’m trying to work out roughly how much I’d come out with each month.
Do you work it out by: deducting taxable allowance from annual earnings then deducting tax and NI (21%?) then adding taxable allowance back on and then divide by 12?

So for example
£25000-£12500=£12500
£12500-21%=£9875
£9875+12500=£22375
£22375/12=£1865 per month

Am I doing this right?

Cheers

Don't forget about the Workplace Pension Scheme.


Another 5% or so to come off your take home total.

Also bear in mind that Scottish tax rates are slightly different to other parts of the UK.
 
Would be easier to use one of the online tools, salarycalculator or the like.


Yep - I use this all the time. If you are comparing old job vs new job take home it has a handy dandy feature just for this


e.g.

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