Help me understand my pay slip (pic included) I am so worried

[taxcodecrazylady]

I have been gifted a £500 bonus, which would obviously be taxed.

I earn £30,000 a year so I thought my salary would be a monthly figure of £1,980 or something similar.

However, the net pay says my total is £2784.12 this month

How does that work? That's more than my take home monthly, plus more than the bonus without even being taxed.

Is the net figure wrong? Should I flag it the the finance lady?

Thank you

I would flag it to be on the safe side, but I agree with PP that because we are so late into the year you won't pay much until the new tax year kicks in in April. Don't get too used to it as I think your calculations are about right for regular income so your April pay packet may come as a bit of shock.

In the mean time - enjoy your bonus.

Due to being unemployed, yo wont pay tax until you hit the threshold.

So you've earned 3068.16 take away £0 for tax and £284.16 for NI contribution, and it's right.

Don't panic, I had the same after an 18 month spell not working.

As others have said you haven't been taxed. You need to raise it with your boss/payroll. You'll have to pay some back.

Please read the thread @strawberrypenguin and perhaps don’t comment unless you know how the annual tax system works.

Ah ok. Yes if you've been unemployed you'll still be under the tax bracket. It will change as you reach it

I left a job in the May of 2017, paid tax on those earnings, then got a job in the October 2017 and didn’t pay tax, as my projected earnings were not going to hit the tax threshold of £11k or whatever it is. Your tax won’t kick in until you reach the limit (sorry can’t remember the limit) but have a look on the Hmrc govt website.

Oh, and enjoy your lovely bonus 😃

What is your tax code?

I think others have copvered it but to reiterate (I work in payroll and use Sage)

Your Pay to Date is only £6,926.33 indicated you have been unemployed between April and your previous payslip. Tax is cumulative so you have a lot of unused tax allowance to use this year.

Depending on what your tax code is once you get to April next year you will start paying tax so plan for that.

it's fine for now :) enjoy.

Tax period 9 means December 6th to Jan 5th. Remember tax years are April 6th to April 5th the following year.
If you started in Nov 14th you have either had some very hefty expenses or your Year To Date (YTD) is wrong.
Assuming most companies work on a 30 day month some do work on a 28 day month. You would have been at the company for 17 days. This is about 1416 ish for November So I would expect your YTD gross pay to be nearer to 4500 not 6926.
It looks like Ladymuck has answered the tax question for you.
In any case just contact payroll or human resources or your boss.

I'm a chartered accountant by the way, the slip is right.
THe only issue you will face is when you go above the threshold before april and will get a demand for payment of underpaid tax. However, you can pay this through adjusting your tax code just speak to HMRC in the new year

Thanks all, I've spoken to the payroll lady via phone (she is working from home, not on leave). She explained it's because of mat leave and previously being out of a job for a good while

I'm only 20 so I'm quite chuffed with my new salary. Christmas will finally be easier this year for my family

THe only issue you will face is when you go above the threshold before april and will get a demand for payment of underpaid tax. However, you can pay this through adjusting your tax code just speak to HMRC in the new year

With Sage Payroll 50 or similar and RTI that shouldn't happen. The programme works out when tax needs to start being paid. The only thing it can't account for is a wide variation in pay for those who are paid according to hours worked.

Assuming most companies work on a 30 day month some do work on a 28 day month. You would have been at the company for 17 days. This is about 1416 ish for November So I would expect your YTD gross pay to be nearer to 4500 not 6926.

If the OP was in receipt of any taxable state benefits between April and now that would show up in her Pay to Date once the first FPS has been submitted.

I know nothing about tax but it sounds like it’s all yours to spend OP. Merry Christmas! 🎄

Myshiny Thank you! Saving for a mortgage

Great news OP! That's a lovely Christmas for you and your family 🎄

With most payroll systems now - electronic - tax is apportioned for each month as you move forward you accrue an allowance for each month until you start working then you use that accrued allowance until it runs out then you are taxed at the normal monthly rate.

It looks right to me too

Wow. And all because I suggested that someone might want to read the thread before giving incorrect advice!

Congratulations on your new job, must be a lovely feeling 😊

@CaroloftheBalls - report that message, it’s disgusting.

wow, thats a harsh response!! @strawberrypenguin did someone piss on your whole dinner?

You've been there a month and you already got a £500 bonus? Marvellous!

(Your payslips are exactly the same as ours and for a moment I thought you might be a colleague - in which case I would have gone up the wall as I got no bonus this year and am on less than that despite doing the same job and more days! )

Ah. I see the thread has taken a turn...