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Tax codes/NI etc- Help please!!
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I have recently found myself a single parent and I am trying to work out my tax and child tax credits but it needs to be beneficial for me to put my young son into childcare. I wonder if anyone can help.... If I work 24 hours a week I will earn �145.20 which is �7550.40 per year. If I work 32 hours a week I will earn �10,067.20 per year. I currently work 16 hours per week and my tax code is 508L and I do not get taxed. Can anyone tell me what I should expect to be taxed/NI contributions on the above amounts? Sorry if this is a silly question.
Thank you.
Thank you.
Answers
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No best answer has yet been selected by sair5412. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Using the figures you have given, the total deductions due to Tax/NI would be:
24 hrs pw = �10.79 giving a nett wage of �134.41
32 hrs pw = �26.76 giving a nett wage of �166.84
http://www.listentotaxman.com/index.php?calc=1 &year=2006&age=0&add=0&taxcode=508L&period=1&i ngr=10067.20&Submit=Calculate
24 hrs pw = �10.79 giving a nett wage of �134.41
32 hrs pw = �26.76 giving a nett wage of �166.84
http://www.listentotaxman.com/index.php?calc=1 &year=2006&age=0&add=0&taxcode=508L&period=1&i ngr=10067.20&Submit=Calculate
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