We're currently struggling with money as DH has lost his job and so I have been working a lot of extra hours on top of my normal hours.
In order to budget, I need to work out how much take home pay I'll actually have this month. It's difficult to understand how much tax/pension/NI etc. will come off.
My tax code is: 1000L CUMU, NI letter: D, Pension contributions at 7.1%
On pay July payslip it said that my Gross pay this financial year is £5957.41, NI pay: 5957.41, NI conts: 340.17
This month my gross pay will be:
Basic Pay = £943.17
Extra Hours = £3110.00
Does anyone have a clue how to calculate what I will have in my hand at the end of the month when tax, NI contributions, pension etc has come off?
If so, how do you work it out? (Sorry for my ignorance).