The Student Room Group

I Earn £466.94 each week how much will I earn each year

Got a new job wondering how much I'll earn before tax deducted and after pls??
roughly £21,938 as your net pay (taking into consideration tax)
however, gross pay would be £24,280 ish (without tax)
(edited 2 months ago)
Original post by heartz4moushi
roughly £21,938 as your net pay (taking into consideration tax)
however, gross pay would be £24,280 ish (without tax)

Thank you 😊
Reply 3
Original post by Anonymous36617
Got a new job wondering how much I'll earn before tax deducted and after pls??

I agree with @heartz4moushi regarding income tax.

That said, you'll also need to pay National Insurance -- £22.49 per week (around £1170 per year).

You may need to include student loan repayments; your salary would be high enough to be making repayments on a "plan 1" loan or a postgraduate loan.

You'll be making pension contributions if you're auto-enrolled into a pension. These are optional, but I recommend that you don't opt out -- if you do opt out you're also giving up your employer's contribution plus the tax benefit.
Original post by martin7
I agree with @heartz4moushi regarding income tax.

That said, you'll also need to pay National Insurance -- £22.49 per week (around £1170 per year).

You may need to include student loan repayments; your salary would be high enough to be making repayments on a "plan 1" loan or a postgraduate loan.

You'll be making pension contributions if you're auto-enrolled into a pension. These are optional, but I recommend that you don't opt out -- if you do opt out you're also giving up your employer's contribution plus the tax benefit.

Oh yea I forgot to take into account other compulsory taxes like n.i and council tax etc. (oh bills too if you want the money left over after ALL expenses) and the optional pension! So altogether maybe a hundred or two/three hundred less??
Reply 5
Original post by heartz4moushi
Oh yea I forgot to take into account other compulsory taxes like n.i and council tax etc. (oh bills too if you want the money left over after ALL expenses) and the optional pension! So altogether maybe a hundred or two/three hundred less??

Council tax isn't deducted from your pay before you get it; while income tax, national insurance, and pension contributions are.
Original post by martin7
Council tax isn't deducted from your pay before you get it; while income tax, national insurance, and pension contributions are.

oops, yes your absolutely right! my bad😅 i counted in as the compulsory as OP asked for after all tax, unless i understood wrong?

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