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Education "Quick Question!" Thread!

Discussion in 'General' started by Solidus, 31 May 2008.

  1. Brooxy

    Brooxy Loser of the Game

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    Question: If you earn between 20 and 25k a year, how much money in percentage comes out of your wages, for NI and tax combined? Government websites confuse the proverbial poo out of me.
     
  2. badders

    badders Neuken in de Keuken

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    I think it's between 21 and 23 percent, though can probably check later for you.
     
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  3. Flibblebot

    Flibblebot Smile with me

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    Assuming an average of £22.5k/yr:

    Income tax allowance is £6475. Between this and £37400, you pay 20% tax. That's £3205 (20% of £16025).
    NI allowance is £5720. You pay 11% NIC on anything over this. That's £1846 (11% of £16780).

    So, your total deductions will be £5051 which is about 22.5% of your total earnings - your annual take home will be about £17.5k - around £1450 per month.
     
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  4. hitman012

    hitman012 Minimodder

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    http://listentotaxman.com/ - very useful site.
     
  5. Brooxy

    Brooxy Loser of the Game

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    Another thread bump - anyone know the rough number of text messages that you can store on a Nokia 3410?

    Just curious as I'll be bringing one out of retirement later in the year for camping and an airsoft weekender (i'd rather not have my HTC shot at). My google-fu is somewhat lacking whilst trying to find this fact.

    Also - best dumbphone ever - I actually missed having one around after about 8 years.
     
  6. Kylevdm

    Kylevdm The Mod Zoo Podcast Host

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    The new HMRC app on iPhone will give you a break down on what tax you will pay as well as NI and show you a break down of what it is spent on
     
  7. DLDeadbolt

    DLDeadbolt Space Cadet

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