Okay I work 37.5 hours a week and I get paid £20.000 a year so how much will I get paid a month with tax cut off I live in u.k :)
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If you mean £20,000.00 a year rather than £20.00, then according to this website it is: (in UK)
Gross Income (yearly): £20,000.00
Gross Income (monthly): £1,666.67
Taxable (yearly): £11,895.00
Taxable (monthly): £991.25
Tax (yearly): £2,379.00
Tax (monthly): £198.25
National Insurance (yearly): £1,487.40
National Insurance (monthly): £123.95
Take Home (yearly): £16,133.60
Take Home (monthly): £1,344.47
But there can be other factors such as student loans or pension deductions :)
Gross Income (yearly): £20,000.00
Gross Income (monthly): £1,666.67
Taxable (yearly): £11,895.00
Taxable (monthly): £991.25
Tax (yearly): £2,379.00
Tax (monthly): £198.25
National Insurance (yearly): £1,487.40
National Insurance (monthly): £123.95
Take Home (yearly): £16,133.60
Take Home (monthly): £1,344.47
But there can be other factors such as student loans or pension deductions :)
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The number of hours you work each week is immaterial as you get an annual salary.
Formula for pay per month is (20000 - tax - NI)/12.
Tax is 20%(20000 - tax allowance). Tax rate is increased for taxable earnings over about 32,000
NI is National Insurance. NI is based on Salary
To find the current tax allowance (approx 8,000) and NI rates (approx 12% over 7,500) you need to refer to HMRC Website.
I think this would give about £1300 a month as take home pay.
Formula for pay per month is (20000 - tax - NI)/12.
Tax is 20%(20000 - tax allowance). Tax rate is increased for taxable earnings over about 32,000
NI is National Insurance. NI is based on Salary
To find the current tax allowance (approx 8,000) and NI rates (approx 12% over 7,500) you need to refer to HMRC Website.
I think this would give about £1300 a month as take home pay.