Johnniey Posted December 1, 2016 Share Posted December 1, 2016 In order to clear 43,000 GBP for one year's work, what would the salary have to be? This is how much I calculate I need there to live as would like, so I'd be looking at getting a job for what salary? 50k, 60k? I assume the only taxes are Income tax and council tax(or equivalent), maybe VAT. Thanks Link to comment
bouph12 Posted December 1, 2016 Share Posted December 1, 2016 According to this calculator http://www.moneysavingexpert.com/tax-calculator/, around 62k should do the trick for income tax only.. Council tax varies according to region and valuation of property. For the London borough of Islington, this year's tax ranges from 864 to 2592 GBP per annum. If you know the postcode, check here https://www.gov.uk/council-tax-bands . Link to comment
MartinL Posted December 1, 2016 Share Posted December 1, 2016 I made this little spreadsheet some years ago to calculate income tax & national Insurance contributions and, just out of curiosity because it no longer applies to me in Thailand, I update the tax allowance, tax rates & NIC thresholds each year. It agrees very closely with the 'moneysavingsexpert' link posted by bouph 12. Handy to keep on your desktop rather than searching for online calculators. Pay Calcs (K).xlsx Link to comment
theoldgit Posted December 1, 2016 Share Posted December 1, 2016 The tax on 62k would be a tad under £14k, and don't forget National Insurance, that can take quite a bite out of your salary. Link to comment
The Fat Controller Posted December 1, 2016 Share Posted December 1, 2016 £61264.14 https://listentotaxman.com/61264.14? That is assuming you pay National Insurance and Income Tax only on a salary. You may have to join a pension scheme which will change the calculation. Living expenses such as Council Tax are paid from your net salary. Link to comment
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