On £25,500 you would pay £3810 tax and 2176.35 EMPE leaving you with £19513.65.
(If your interested I calculate the the EMPR is £2532.48).
Hope that this helps. It probably isn't to the penny but it's not far out (There or thereabout as Rob would say!).
Shaun.
P.S. note that as you didn't say whether the code was L I just used 6450 rather than 6455 as the tax free amount.
-- Edited by Shamus on Monday 17th of May 2010 04:10:41 PM
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
On £25,500 you would pay £3810 tax and 2176.35 EMPE leaving you with £19513.65.
(If your interested I calculate the the EMPR is £2532.48).
Hope that this helps. It probably isn't to the penny but it's not far out (There or thereabout as Rob would say!).
Shaun.
P.S. note that as you didn't say whether the code was L I just used 6450 rather than 6455 as the tax free amount.
-- Edited by Shamus on Monday 17th of May 2010 04:10:41 PM
Its an L code, like I say I don't know anything about wages at all so I don't know what EMPR is and EMPE is so you've managed to baffle me but if that figure is where or whereabouts (which is what I like ) then we will be happy days.
On £25500 with a tax code of 645 I work it out to be £3809 tax and £2176.35 Employees NI (based on PT of 5715) which would give annual net income of £19514.65 or £1626.22 a month or thereabouts.
-- Edited by semsley on Monday 17th of May 2010 04:37:18 PM
for 645L I get tax and N.I. to the penny the same as Sheila but I think that she's gone a little amiss with the net income.
£25,500 - (3809+2176.35) = 19,514.65 or £1626.22 pcm.
Shaun.
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Shaun
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EMPE is the employee's N.I. contributions and EMPR is the employers N.I. contributions.
The part that employee's normally refer to as N.I. is EMPE.
cheers,
Shaun.
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Shaun
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Awesome cheers folks, we can afford to live still then yippee, she just needs to get the job now, oh and I've got an interview on thursday for a Bookkeeper/accounts asst job so fingers crossed.
goes back to one of my posts from the other day that I often find myself doing calculations long hand to confirm what the calculator is telling me.
In this instance though I've got a little Excel routine that I've built that I just tell it the pay and the tax code and it does it all for me.
Have you noticed though that if you actually use the NI books you come out with an incorrect figure for the year where invariably your in profit over doing the calculation properly!
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Shaun
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Good luck and don't abandon us when you've got the accounts assistant job!
All the best,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Good luck and don't abandon us when you've got the accounts assistant job!
All the best,
Shaun.
Cheers Shaun, it's low end stuff but perfect for a newbie like me.
It bodes well that the closing date is 1st June and they called me a few hours after dropping my application in, so like you say fingers crossed and i could be on my way to achieving what i set out to do.
No I would never abandon this forum you've all been a great help and it's a good source of knowledge and you all seem like thoroughly decent folks, plus I'd miss amandas avatar.
Quick question though, I meet all their criteria bar manual cash book entries. I know how to do them (part of AAT) but never used them in real life and from what I can see they also want someone who can use sage (which I can), question is why would they want both? Surely if they are using sage they wouldn't need me to also manually enter payments and reciepts into a cash book when they can just be entered on sage.
Steve didn't ask for us to pro rata the answer so I didn't. Is that where our difference is?
Talk in a bit,
Shaun,
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
but you should take it as a real compliment that if you disagree with me I question my own calculations rather than your answer!
What is it the younger generation say... Respect bro!
Talk in a bit matey,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
