How to use the Take-Home Calculator To use the tax calculator, enter your annual salary or the one you would like in the salary box above New. If you are earning a bonus payment one month, enter the £ value of the bonus into the bonus box for a side-by-side comparison of a normal month and a bonus month. Find out the benefit of that overtime. Enter the number of hours, and the rate nhs pay rise calculator which you will get paid. For example, for 5 hours a month at time and a half, enter 5 1. There are two options in case you have two different overtime rates. To keep the calculations simple, overtime rates are based on a normal week of 37. This will apply the Scottish rates of income tax. If you know your tax code, enter it into the tax code box for a more accurate take-home pay calculation. If nhs pay rise calculator are unsure of your tax code just leave it blank and the default code will be applied. If you have a pension which is deducted automatically, enter the percentage rate at which this is deducted and choose the type of pension into which you are contributing. Pension contributions are estimates, click to. If you receive Childcare vouchers as part of a salary sacrifice scheme, enter the value of the vouchers you receive each month into the field provided. If you signed up for the voucher scheme before 6th April 2011, tick the box - this affects the amount of tax relief you are due. Select your age range from the options displayed. There are now two repayment methods for Student Loans, which are known as Plan 1 same as the original method and Plan 2. You can now choose the tax year that you wish to calculate. You'll be able to see the gross salary, taxable amount, tax, national insurance and student loan repayments on annual, monthly, weekly and daily bases. This is based on Income Tax, National Insurance and Student Loan information from April 2018. The rates and thresholds are set by the Scottish Government. You are classed as living in Scotland if that is where your main residence is. More information is available and. Student Loans There are two methods of repayment of undergraduate loans, and from April 2019 repayments start on separate Postgraduate Loans. If your course started on or after 1st September 2012 and you lived in England or Wales, you will repay your loan through Plan 2. Loans for postgraduate study are repaid through the Postgraduate Loan plan. Tick the relevant box es to see the deductions. More information is available on the page. Bonus Payments If you are being awarded a bonus by your employer, enter the £ value of this bonus and choose your normal pay period. This is treated as a one-off payment in a single pay period. Instead of the usual columns in the results table, you will see your yearly totals and a comparison of your bonus period with a normal period. As most employers do not include bonus payments in the calculation of pension deductions, the calculator also makes no changes to pensions in a nhs pay rise calculator period. Choose the type of pension that you have, either an auto-enrolment employer pension, an other non-auto-enrolment employer pension, a salary sacrifice scheme, or a personal pension. For auto-enrolment pensions, the percentage contribution field only applies to your earnings between the lower and upper thresholds £6,032 to £46,350not your whole income. This no longer applies and so is an option only for previous tax years. Salary Sacrifice You might agree with your employer to contractually reduce your salary by a certain amount, in exchange for some non-cash benefits. You save tax and National Insurance on the value of those benefits. If you take part in such a scheme, enter the amount you sacrifice into the box and choose whether this is on a yearly, monthly or weekly basis. You pay tax on the value of these benefits, but not National Insurance. If your tax code is used to collect the extra tax, you do not need to enter your benefits here. If you do receive such benefits, enter the value of the nhs pay rise calculator into the box and choose whether this is on a yearly, monthly or weekly basis. Other Options You may not pay National Insurance Contributions, for example if you are over State Pension Age. Those who are registered blind are entitled to an increased personal allowance which reduces the amount of tax you pay. If you are married and were born before 6th April 1938, you receive a tax rebate. Other Deductions If you have other deductions which are taken out of your pay each month, enter them into the fields provided. Some deductions are made before tax such as charitable giving or Give As You Earnothers are taken after tax.
