Take Home Pay

[hammerman]

My daughter, who will be 18 on the day she starts her new job, will be earning £17,000 pa,.....or approx. £1,416 pcm.

Does anyone know what her net pay will be after tax and NI is taken out

She will have a pension too but i'll work that out based on her contribution percentage when we know it.

She's 18, tax code is 10005L and that's it really

Just an approx. is fine

Thank you

[fiction-factory]

Yes, that site is useful but I don't think it takes account of working for only part of a tax year.

[fiction-factory]

NewJudge has worked it all out for hammerman's daughter's circumstances assuming she starts on 1st August and has a standard tax allowance. Pension also needs to be taken into account once the rate is known- and once we know whether it's a salary sacrifice scheme

[New Judge]

Not a lot of use in these circumstances (where salary for only eight months of the year is expected) fadeout.

If you use an annual figure of £11,333 (which is correct) the calculator gets the annual tax correct (though it gets the monthly figure wrong because it assumes 12 pay packets). But it under estimates the NI deductions (because NI is levied monthly regardless of the total annual income).

If you use an annual figure of £17,000 the monthly NI is correct (though the annual figure is wrong) but the tax is completely wrong (because £17,000 will not be earned).

The moral of the story: do not blindly rely on calculators :-)

[fiction-factory]

Yes, they normally only work for full tax years. The calculator should be right for the full tax year 2017/18 though (assuming it uses the new allowances and she works the full tax year).

[clairson59]

I use a website I have found to be accurate to just a few pounds. You just enter her salary, pension amount etc.

P.S tax code for 2016/17 is 1100L as the new tax free limit is now £11,000.

http://www.thesalarycalculator.co.uk/salary.php

[FeryUK]

The correct answer for the financial year 2017-2018 is £1238 net pay/month for £17000 after tax and national insurance: https://www.income-tax.co.uk/after-tax/17000/