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How much more tax would I be paying?

12 replies

mizu · 11/06/2010 20:58

If I now earn £1598 a month gross and pay about £180 tax (tax code 647L)and I earned £650 more a month, how much tax would I be paying roughly?

Have got an opportunity to do maternity cover ie extra hours, i am part time, for someone for a few months and am just wondering if it is worth it once I've sorted out childcare.

Can anyone help? I'm not very good at the sums.

OP posts:
DaisymooSteiner · 11/06/2010 21:07

Multiply the extra by 0.69 to cover tax and national insurance. £448.50 by my calculation.

mizu · 11/06/2010 21:18

Thanks for reply but is that how much tax i would be paying or how much extra I would earn each month?

OP posts:
DaisymooSteiner · 11/06/2010 21:25

No, that would be the net increase in your wage.

Danthe4th · 11/06/2010 21:26

20% of £650 would be £130 tax extra per month as you have used all of your tax allowance up for the month but you need to add on some for national insurance.

mrspear · 11/06/2010 21:27

Try here

bubbles4 · 11/06/2010 21:29

I have calculated it 3 times and on a monthly income of £1598,I reckon you should be paying about £211 in tax [I cant get it to £180] and if you add in the extra £650 you would be paying £341 in tax.

Danthe4th · 11/06/2010 21:31

lol my dh has just got his calculator out to check and has started spouting on about gross and pension . Go with the 20%, sadly he works for hmrc!!!

Danthe4th · 11/06/2010 21:32

Lol bubbles thats exactly what my dh got it to £211!!!

mizu · 11/06/2010 21:33

Bubbles4 - Ah that would be because before tax I have money taken out for childcare.

So, I would be paying about £341 in tax and a bit extra for NI. Thanks all, now I have to work out if it is worth doing.

OP posts:
Danthe4th · 11/06/2010 21:33

something about not including a pension dedustion, do you work with my DH??

Danthe4th · 11/06/2010 21:34

deduction !!

DaisymooSteiner · 12/06/2010 10:08

NI contributions are 11%, tax 20%. So 31% in total. Which will give you a net increase in salary of £448.50 (not including pension contributions), as I said back in my first post!

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