ChatterBank4 mins ago
net to gross
4 Answers
Are there any accountants out there who know what a net salary of �1000 equates to gross?
If you do know please include employee national insurance and employer nat insurance.
Thanking you in advance.
If you do know please include employee national insurance and employer nat insurance.
Thanking you in advance.
Answers
Best Answer
No best answer has yet been selected by cruciverbals. 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.As mentioned by factor30 there are indeed many factors :D that will affect an individual's Tax and NI liability.
However, if we are to assume "usual" parameters such as Tax Code 522L and no pension contributions or benefits, then to receive �1000 net per month one would need to earn �1245.14 p.m. (or �14,941.68 p.a.) gross, of which:
employee NI = �89.30
employer NI = �103.90
The figures are based on total year earnings therefore the monthly figures can fluctuate by a few pence within PAYE.
However, if we are to assume "usual" parameters such as Tax Code 522L and no pension contributions or benefits, then to receive �1000 net per month one would need to earn �1245.14 p.m. (or �14,941.68 p.a.) gross, of which:
employee NI = �89.30
employer NI = �103.90
The figures are based on total year earnings therefore the monthly figures can fluctuate by a few pence within PAYE.