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Working in the UK - Tax Bands

  • 08-01-2008 07:25PM
    #1
    gucci
    Registered Users, Registered Users 2 Posts: 4,296 ✭✭✭


    I have been offered a post in the UK starting on 22,500 sterling, i have been looking on inland revenue site and some things but can't get a clear indication of what my take home monthly would be. Can anyone point me in the right direction?
    Thanks in advance.


Comments

  • #2
    mcic
    Closed Accounts Posts: 73 ✭✭mcic


    gucci wrote: »
    I have been offered a post in the UK starting on 22,500 sterling, i have been looking on inland revenue site and some things but can't get a clear indication of what my take home monthly would be. Can anyone point me in the right direction?
    Thanks in advance.

    Your yearly net income would be £17,064, so £1,422 per month. The tax rates will be changing from next (this?) year, right now there's a 10% starting rate and then it goes to 22% and then 40% for the highest band. They're changing it to 20% and 40%, abolishing the 10% rate. The £1,422 is calculated on the 10-22-40 basis and you can use this site to calculate net pay per year/month/week.


  • #3
    Hitchhiker's Guide to...
    Registered Users, Registered Users 2 Posts: 3,323 ✭✭✭Hitchhiker's Guide to...


    tax is a nightmare over here.

    on top of the 20% rate, you also have to pay 12% national insurance

    also you have to pay council tax (circa £100 per month), water and sewage, and public transport (especially trains) is extremely expensive.

    free public healthcare is also a myth.

    it would be very hard to live in London on that pay if that's where you're going to.

    / just my bitter observations after 4 months over here!


  • #4
    mcic
    Closed Accounts Posts: 73 ✭✭mcic


    Roundtower2 wrote: »
    tax is a nightmare over here.

    on top of the 20% rate, you also have to pay 12% national insurance

    also you have to pay council tax (circa £100 per month), water and sewage, and public transport (especially trains) is extremely expensive.

    free public healthcare is also a myth.

    it would be very hard to live in London on that pay if that's where you're going to.

    / just my bitter observations after 4 months over here!

    AFAIK that listentotaxman site factors in the national insurance in the figures.

    Do you know how they calculate council tax? Is it based on the size of the house/flat or the area or some other random factor? I'm moving to London next year, so any advice is appreciated!


  • #5
    Sesame
    Registered Users, Registered Users 2 Posts: 518 ✭✭✭Sesame


    http://www.direct.gov.uk/en/HomeAndCommunity/YourlocalcouncilandCouncilTax/CouncilTax/index.htm?cids=Google_PPC&cre=Money

    This shows how council tax is calculated. It depands on the value of the residence that was taken in 1991! It does not take into account the number of people that live at the address, except in the case of a single occupancy where the occupier will pay 75% of the overall rate.
    I live in a one bedroom flat that falls into band C. Each borough/council calcultes its own council tax but the government sets limits in this. I pay roughly about £130 a month, shared with one other person so it works out at £65 each a month.


  • #6
    daveirl
    Closed Accounts Posts: 14,483 ✭✭✭✭daveirl


    This post has been deleted.


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  • #7
    Hitchhiker's Guide to...
    Registered Users, Registered Users 2 Posts: 3,323 ✭✭✭Hitchhiker's Guide to...


    actually good point, it does include national insurance.

    London is going to be expensive. Rental accomodation, including council tax and bills will be circa £600 for a room. Transport will be another, maybe, £100-£150.


  • #8
    Hitchhiker's Guide to...
    Registered Users, Registered Users 2 Posts: 3,323 ✭✭✭Hitchhiker's Guide to...


    daveirl wrote: »
    This post has been deleted.

    I really amn't convinced that the UK system is anything more than a high tax/low benefit system. There is a serious disincentive to earn more than the top of the 20% tax band. Some other personal reflections:
    • The healthcare system in England (as opposed to Wales and Scotland) is almost as bad as Ireland. Its technically very good, but really hard to actually use. Well, at the very least it's certainly not worth the extra taxes.
    • I don't get the impression that the council tax provides a better council service. There is certainly no evidence of it in Colchester where i am based (which is meant to be one of the richer areas).
    • Free dental care is non-existant.
    • The tax on pension savings is a particularly sneaky and harmful form of tax
    • Gains on investments - e.g. from buying shares, are taxed at your top rate of tax, rather than 20% for all capital gains in Ireland
    • Wage growth is extremely sluggish, and is barely keeping up with inflation


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