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If my annual salary is 23,000, How much should I paid after tax each month, not sure im getting taxed right!!! my tax code is 603L????
Your code should be 647L - so I don't know whether your employer has filed to update your code at 06/04/2009 or whether you started work with this employer after 06/04/2009 and handed in a P45 from last tax year.
But on code 603L this is what you pay should be
Less Free Pay 6035
Chargeable to tax 16965 x 20% = £3393
Less NI Free 5720
Chargeable 17280 x 11% = £1900
Gross Pay 23,000
Less Tax 3,393
Less NI 1,900
Net Pay 17707 per year equates to £1475 per month take home
I would check that your code is correct - either with your employer or by phoning the tax office, as if you code should be 647: then you would take home a bit more money - about £7 a month
Wow I cant believe how fast that was!!!!!
Thanks the NI amount as well, I totally forgot about that!
I will surely be using this site again.
You are very welcome - and you can always ask if you like -
Sam or Sam Tax