Tax question.

This:
http://money.uk.msn.com/planning/tax...estimator.aspx

No idea what my tax code is so I left it on default.

I entered £1400 a month (£308*4.5).

Yes that's correct roughly you get taxed about 25%, sorry to be the bearer of bad news

Tax is about 25% I worked out before

and N.I!!! another £150 or so..

That's included in the £306, sorry I should have said.

oh sounds right-just think what you get for it

the mps all need new curtains and kitchens this year!

pmsl, WELCOME to the real world dude,
life's a beech, then you marry one ;)

Life's a b**ch then you DIE !!!

Hmmm, I'm no expert but this does seem high?
If you get £308 pw = £16,016 gross per annum (£308 * 52)

I think it is standard to have a personal allowance of £6,035, so the income you pay tax on is £16,016 - £6,035 = £9,981.
Tax at basic rate = 20% so this equals 0.2 * 9981 = £1,996.20 tax per annum, which is / 12 = £166.35 per month?

I'm not sure about any of the above, hopefully someone will be able to confirm (or otherwise). Please don't budget according to my calculations, as it is quite possible I am wrong!!
(there will be N.I. on top of this, which may be about £100 per month? = £266.35 deduction per month for tax and NI??).

Welcome to the club. Just keep in mind you can retire at 65.









They'll still tax your pension though!

hubby pays 40% tax

Not sure thats gunna last much longer prob work till u drop soon, LoL that'll be how you get a job stalk them then when they drop, then just start their job

Not on all of it, only on what he earns over around £42,000 I think is.

Someones gotta look after the unemployed, and sponsor the war effort. Thanks for helping us working people out!