How often do you get paid in the uk?
Apr 24th 2005, 3:19 am
#1
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How often do you get paid in the uk?
Hi,
I am trying to figure out how much take home money I will get. I pretty much worked out that I will earn about 14000 a year. However, the take home pay will obviously depend on whether I get paid monthly or weekly. If weekly, the take home pay will be less, i guess, as i will get taxed more. So, for those of you, especially office workers, how often do you get paid...weekly, bi-weekly or monthly?
Thanks!
I am trying to figure out how much take home money I will get. I pretty much worked out that I will earn about 14000 a year. However, the take home pay will obviously depend on whether I get paid monthly or weekly. If weekly, the take home pay will be less, i guess, as i will get taxed more. So, for those of you, especially office workers, how often do you get paid...weekly, bi-weekly or monthly?
Thanks!
Apr 24th 2005, 3:45 am
#2
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Re: How often do you get paid in the uk?
Originally Posted by SDER
Hi,
I am trying to figure out how much take home money I will get. I pretty much worked out that I will earn about 14000 a year. However, the take home pay will obviously depend on whether I get paid monthly or weekly. If weekly, the take home pay will be less, i guess, as i will get taxed more. So, for those of you, especially office workers, how often do you get paid...weekly, bi-weekly or monthly?
Thanks!
I am trying to figure out how much take home money I will get. I pretty much worked out that I will earn about 14000 a year. However, the take home pay will obviously depend on whether I get paid monthly or weekly. If weekly, the take home pay will be less, i guess, as i will get taxed more. So, for those of you, especially office workers, how often do you get paid...weekly, bi-weekly or monthly?
Thanks!
Apr 24th 2005, 4:51 am
#3
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,439
Re: How often do you get paid in the uk?
Originally Posted by SDER
.... If weekly, the take home pay will be less, i guess, as i will get taxed more. ....
The British income tax regime calculates tax based on income - if you are paid weekly you will pay 1/52nd of your annual income taxes each week, and if you are paid monthly you will pay 1/12th of your annual income taxes each month. It matters not one jot whether you are paid weekly or monthly when calculating how much tax you pay on your income.
For 2005-06 the first £408/mth or £95/week you earn is tax free, the next £174 per month (£40/wk) is taxed at 10%, and in your case the balance will be taxed at 22% (upto £32,400 per annum).
So your income taxes, on £14,000 per annum, will be 0% on the first £4895, 10% on £2090, and 22% on £7015, equal to a total of £1752, divided into £146/mth, or £34/wk.
There is also National Insurance, a social security tax, that you will have to pay at a rate of 11% on everything you earn over £94/wk (£407/mth). On annual pay of £14,000 that is £19/wk (£83/mth). (There is a "cap" on income chargeable to NI, for high earners, above which the rate falls to 1%)
So in summary £14,000 is equal to £1167/mth (£269/wk), from which is deducted £146 (£34/wk) income tax, and £83 (£19/wk), for net pay of £938/mth (£216/wk).
All figures are rounded and so may vary by a few £££ over a whole year.
I hope that this helps?
Last edited by Pulaski; Apr 24th 2005 at 5:22 am.
Apr 24th 2005, 3:20 pm
#4
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Re: How often do you get paid in the uk?
Originally Posted by Pulaski
Why would you think that weekly paid employees are taxed more?
The British income tax regime calculates tax based on income - if you are paid weekly you will pay 1/52nd of your annual income taxes each week, and if you are paid monthly you will pay 1/12th of your annual income taxes each month. It matters not one jot whether you are paid weekly or monthly when calculating how much tax you pay on your income.
For 2005-06 the first £408/mth or £95/week you earn is tax free, the next £174 per month (£40/wk) is taxed at 10%, and in your case the balance will be taxed at 22% (upto £32,400 per annum).
So your income taxes, on £14,000 per annum, will be 0% on the first £4895, 10% on £2090, and 22% on £7015, equal to a total of £1752, divided into £146/mth, or £34/wk.
There is also National Insurance, a social security tax, that you will have to pay at a rate of 11% on everything you earn over £94/wk (£407/mth). On annual pay of £14,000 that is £19/wk (£83/mth). (There is a "cap" on income chargeable to NI, for high earners, above which the rate falls to 1%)
So in summary £14,000 is equal to £1167/mth (£269/wk), from which is deducted £146 (£34/wk) income tax, and £83 (£19/wk), for net pay of £938/mth (£216/wk).
All figures are rounded and so may vary by a few £££ over a whole year.
I hope that this helps?
The British income tax regime calculates tax based on income - if you are paid weekly you will pay 1/52nd of your annual income taxes each week, and if you are paid monthly you will pay 1/12th of your annual income taxes each month. It matters not one jot whether you are paid weekly or monthly when calculating how much tax you pay on your income.
For 2005-06 the first £408/mth or £95/week you earn is tax free, the next £174 per month (£40/wk) is taxed at 10%, and in your case the balance will be taxed at 22% (upto £32,400 per annum).
So your income taxes, on £14,000 per annum, will be 0% on the first £4895, 10% on £2090, and 22% on £7015, equal to a total of £1752, divided into £146/mth, or £34/wk.
There is also National Insurance, a social security tax, that you will have to pay at a rate of 11% on everything you earn over £94/wk (£407/mth). On annual pay of £14,000 that is £19/wk (£83/mth). (There is a "cap" on income chargeable to NI, for high earners, above which the rate falls to 1%)
So in summary £14,000 is equal to £1167/mth (£269/wk), from which is deducted £146 (£34/wk) income tax, and £83 (£19/wk), for net pay of £938/mth (£216/wk).
All figures are rounded and so may vary by a few £££ over a whole year.
I hope that this helps?
I really appreciate your help on this, as its important to me. Im trying to figure out if I can afford to live in the uk. At least I worked out that I would probably get 14,000.
Thanks!!!
Last edited by SDER; Apr 24th 2005 at 3:26 pm.
Apr 24th 2005, 3:28 pm
#5
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Re: How often do you get paid in the uk?
Originally Posted by Bob
Obviously depends on what your doing for a job,but most salaried jobs are paid monthly whilst waged jobs are paid weekly...
Apr 24th 2005, 3:39 pm
#6
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Re: How often do you get paid in the uk?
I think the easy answer is this....
52 weeks in a year
12 months in a year
Wages per month are taken as 52 weeks divided by 12 months.
As we humans think as a month of 4 weeks it will seem that weekly pay is less than monthly pay.....
£100 per week = £5200 per year
£5200 divided by 12 months = £433.33
If you think of a month as 4 weeks then it seems like £400 a month...
It's not less, it's just averaged out over the year....
Hope this helps...
52 weeks in a year
12 months in a year
Wages per month are taken as 52 weeks divided by 12 months.
As we humans think as a month of 4 weeks it will seem that weekly pay is less than monthly pay.....
£100 per week = £5200 per year
£5200 divided by 12 months = £433.33
If you think of a month as 4 weeks then it seems like £400 a month...
It's not less, it's just averaged out over the year....
Hope this helps...
Apr 24th 2005, 3:45 pm
#7
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Re: How often do you get paid in the uk?
Originally Posted by honeymommy
I think the easy answer is this....
52 weeks in a year
12 months in a year
Wages per month are taken as 52 weeks divided by 12 months.
As we humans think as a month of 4 weeks it will seem that weekly pay is less than monthly pay.....
£100 per week = £5200 per year
£5200 divided by 12 months = £433.33
If you think of a month as 4 weeks then it seems like £400 a month...
It's not less, it's just averaged out over the year....
Hope this helps...
52 weeks in a year
12 months in a year
Wages per month are taken as 52 weeks divided by 12 months.
As we humans think as a month of 4 weeks it will seem that weekly pay is less than monthly pay.....
£100 per week = £5200 per year
£5200 divided by 12 months = £433.33
If you think of a month as 4 weeks then it seems like £400 a month...
It's not less, it's just averaged out over the year....
Hope this helps...
Apr 24th 2005, 4:39 pm
#8
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Re: How often do you get paid in the uk?
Originally Posted by SDER
Oh great, that makes alot of sense! Thank You.....! For some weird reason, I was thinking weekly pay was getting taxed more....duh!
Oh and you have started me on thread posting about taxes now... LOL
It's can all be so bloody confusing.... LOL Is it a government conspiracy????
Oh... One thing I was a little concerned about... £14000 a year is not a lot to live on here you know... I guess it depends where you live though.
Apr 24th 2005, 5:31 pm
#9
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Re: How often do you get paid in the uk?
Originally Posted by honeymommy
Your welcome... I only knew that, as I had the same thinking as you. I called the payroll dept so they could explain the monthly vs weekly wage.
Oh and you have started me on thread posting about taxes now... LOL
It's can all be so bloody confusing.... LOL Is it a government conspiracy????
Oh... One thing I was a little concerned about... £14000 a year is not a lot to live on here you know... I guess it depends where you live though.
Oh and you have started me on thread posting about taxes now... LOL
It's can all be so bloody confusing.... LOL Is it a government conspiracy????
Oh... One thing I was a little concerned about... £14000 a year is not a lot to live on here you know... I guess it depends where you live though.
Apr 24th 2005, 6:07 pm
#10
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Re: How often do you get paid in the uk?
Originally Posted by SDER
Hmm, I thought 14,000 might work for me and for me to save some. I was hoping to find a room/flat share for 360'ish, 40 pounds a week for food and stuff, and also I wouldnt have a car and just rely on public transportation. This would leave me about 400 pounds to save at the end of the month. I figure 14,000 to be the going rate for admin work. What do you think?
Average bedsit is £70-130 a week and you'll probably spend closer to £50 a week on groceries....won't leave you much to chill out and go to the pub or cinema very often...
Apr 26th 2005, 4:03 pm
#11
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Re: How often do you get paid in the uk?
Originally Posted by SDER
Pulaski,I figured my question would be a stupid one! Im lost when it comes to taxes!! The reason I asked is that I used the net pay calculator on iresign.com. I put in my annual salary of 14,000, and i cant remember the figures, but it was about 920 per month that I would receive. Weekly I would receive about 200 (which would work out at 800'ish, much less than the monthly pymt of 920) So I figured that by getting payed weekly I would get taxed more...I dont know, hmmmm. Your e-mail also reflects the figures I got from iresign.com. You said that weekly I would get 216, monthly 938. So if I get paid weekly my monthly income would be much less (216 x 4) 864, rather than 938.... Maybe I need more sleep
I really appreciate your help on this, as its important to me. Im trying to figure out if I can afford to live in the uk. At least I worked out that I would probably get 14,000.
Thanks!!!
I really appreciate your help on this, as its important to me. Im trying to figure out if I can afford to live in the uk. At least I worked out that I would probably get 14,000.
Thanks!!!
Since you can't even work this out, how do you expect to be able to figure out monthly vs weekly wages.
938 = (216 * 4.3333). Close enough for a rough calculation.
Apr 26th 2005, 11:35 pm
#12
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Re: How often do you get paid in the uk?
Originally Posted by austin_d_powers
There are 4.3333 weeks in one month ( 52 / 12 ).
Since you can't even work this out, how do you expect to be able to figure out monthly vs weekly wages.
938 = (216 * 4.3333). Close enough for a rough calculation.
Since you can't even work this out, how do you expect to be able to figure out monthly vs weekly wages.
938 = (216 * 4.3333). Close enough for a rough calculation.
Eeew....did we get out of the bed the wrong side this morning? If you read my message properly, I did not ask how many weeks there are in one month. If you cant be pleasant, dont respond
Apr 27th 2005, 2:39 am
#13
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,439
Re: How often do you get paid in the uk?
Originally Posted by austin_d_powers
There are 4.3333 weeks in one month ( 52 / 12 ). ...
Apr 27th 2005, 7:33 am
#14
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Re: How often do you get paid in the uk?
Originally Posted by SDER
Hi,
I am trying to figure out how much take home money I will get. I pretty much worked out that I will earn about 14000 a year. However, the take home pay will obviously depend on whether I get paid monthly or weekly. If weekly, the take home pay will be less, i guess, as i will get taxed more. So, for those of you, especially office workers, how often do you get paid...weekly, bi-weekly or monthly?
Thanks!
I am trying to figure out how much take home money I will get. I pretty much worked out that I will earn about 14000 a year. However, the take home pay will obviously depend on whether I get paid monthly or weekly. If weekly, the take home pay will be less, i guess, as i will get taxed more. So, for those of you, especially office workers, how often do you get paid...weekly, bi-weekly or monthly?
Thanks!
Hi,
When I lived in the UK (i left 2003) I did a lot of shop and office work over the years. Generally the pay would go into my bank account in the last week of the month. e.g. one place pay day was the 28th of the month, if 28th fell on a saturday I would get paid Friday, if it fell on a sunday I would get paid monday. The last place I worked at paid on the last Thursday of the month.
hope this enlightens you!!
NJJ
Apr 27th 2005, 8:39 am
#15
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Re: How often do you get paid in the uk?
Don't mean to hi-jack this thread..but just wanted to say. I enjoy the holiday time given here in UK. I get 4-6 weeks paid holiday time a year...plus all the added Bank Holidays..Christmas,Boxing Day,Easter and so on.
I get paid monthly. Have had jobs that were weekly paid.
I get paid monthly. Have had jobs that were weekly paid.