I have to get my bursary forms sent off today and am struggling with DH income and expenses. I have to give last years actual figures for salary, Income Tax and NI. I also have to give this years estimated and that is where I am stuck.
Last years salary = 37032.54, IT= 6780.46 and NI= 3169.89.
This years salary will be 32,500. I don't know how to calculate the others.
I've worked it out this way. I need to know if its right. If his salary was 37,032 then 1% of that is £370. Therefore 6780/370 gives 18% so 18% of 32,500 is. 5850. Same with 3169/370 = 8.6% so 8.6% of 32,500 is 2795
Have I done that right. I'm hopeless at working things out