Tax question

[bktouk]

Hello Expats,

I am moving to Crawley, UK in about 2 months. I have been offered a job with my current company in our UK office. I will not be on an expat package [it is a local job]. The salary is offered at 47K GBP with an additional 6.5K GBP for a car allowance. Can anyone offer advice on how to properly calculate what my taxes will be? Is there a rough percentage of what my gross pay is to what my take home pay will be? Or does anyone have a good link for this question?

Thanks very much!

Anyone familiar with Henfield?

[Bevdeforges]

Take a look at Inland Revenue site here: HM Revenue & Customs: Home Page

Inland Revenue is the UK equivalent of the US IRS.

Actually, the HR (human resources) department of the UK office of your company should be able to give you a good idea of the level of taxes and other withholdings (i.e. social insurances).
Cheers,
Bev

[MariaP]

In UK that salary bracket will mean you will get taxed 40%

[Cat]

Your car allowance is added to your salary as it is a taxable allowance.
Then about £5500 will be deducted from the total above - this is a personal allowance available to all tax payers.

The tax bands and rates change year to year. As far as I'm aware, you will be taxed 20% on your salary up to £34600 and 40% on anything above that.

Hope this helps

[Elphaba]

I'm afraid you have all forgotten to include National Insurance! That is 11% of band earning (£100 to £670 per week in tax year 2007/08)

Use this link for a quick calculation

tax calculator - from workSMART.org.uk



Note however that from the start of the next tax year (06/04/08) there will be changes to the system - essentially the 10% bad goes and basic rate becomes 20%. Higher rate is unchanged at 40%.


To clarify an earlier poster's comments 40% is only payable on income above the upper limit, no on all earnings.