# Wage slips, Tax NIC etc....



## alan hanson (May 21, 2008)

Afternoon All,

Maybe a simple answer as i understand pretty much nothing when it comes to how they get to the final figure all i know like most its probably not enough.

Anyhows, basically payslip this month i got extra as i get 10 days sick a year if i dont use them i get the money for them, i knew i would get stung extra on this but i feel i have had my pants pulled down and ......................... worked out little over 1200 before tax for the value of the 10 days sick. So compared to my last months payslip turns out i lost 49% of the 1200 through student loans, NIC and Tax? this probably is right but wouldnt mind trying to understand it a little as i had hoped to see over 700 tbh. Did this one off sum mean i entered the higher tax bracket? (if i were to get an extra 1200 a month i woud be just over 43K a year) sut surely if thats the case the other 11 months im back down to just over 30k?

appreciate any help


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## danwel (Feb 18, 2007)

Yes sounds like you entered the higher tax bracket for the month and it will be back to normal next month. What i was told is that it will even itself out over the course of the year


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## Tricky Red (Mar 3, 2007)

You will get taxed higher for one month but it will reverse itself. Don't worry.


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## Darlofan (Nov 24, 2010)

Yeah what they do is assume you've had a pay rise and take higher rate tax. You'll get it back when they realise(usually at end of tax year, April 5th). As for student loan that's gone now so you owe a little less!!


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## alan hanson (May 21, 2008)

Darlofan said:


> Yeah what they do is assume you've had a pay rise and take higher rate tax. You'll get it back when they realise(usually at end of tax year, April 5th). As for student loan that's gone now so you owe a little less!!


Be interesting to see if i do, as for student loans, that extra may cover some more interest not too sure about paying more off. just doesnt seem to be going down.

Thanks for the help all


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## Dougnorwich (Jun 27, 2014)

Student loans are based on a % of your pay the higher your pay the more they take

Tax works on a cumulative taxable pay scale so tgat will come good over tge next few months I doubt you hit the higher tax bracket


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## m4rkymark (Aug 17, 2014)

Even if you do go into the higher rate bracket you are only taxed at the higher rate on the money you earn above the threshold. So if you only earn £200 above the threshold you only pay the higher rate tax on that £200. If you are that close to the threshold you can stick money into your pension or give it to charity to bring you back under the threshold.


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## alan hanson (May 21, 2008)

my pension at work is a joke dont know why i even put into it yes better than saving but its going to give me very little


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