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What would be the net pay for a salary of £20,000?

How much tax you would pay on a salary of £20,000 PAYE I think the tax code would be around 494L???

  • Answer:

    ok the single person tax code for 06/07 is 5035 for a salary of £20,000 it breaks as £3034 tax £1645 national insurance and nett pay of £15320 or £1276 per month, however if you recieve additional perks from your employer the tax code will be reduced to reflect the benefit in kind charge.

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http://www.listentotaxman.com/ free PAYE calculator You'll take home about £15k

Stu

go to website i-resign.com and you input details and it works it all out

UC BLUES -Get a job, stop stalking

i think the 494 means that you can earn £4940. tax free which leaves you with just over £15,000 to pay tax on tax is normally 35% or one third so around £5,000

stovies

you would pay approx £3000 tax but dont forget you have to pay National Insurance - this link may prove useful its a payslip calculator http://www.lowtax.co.uk/common/calculators/payroll.html

tammy_tynant

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