Is my pay/tax correct?

[V8 WUU]

I started a` job a few months back, and just got my payslips, and something does not look right with the tax code and payable tax.

I am on a salary of £40K/Year, apparently payroll is done monthly, but pay is done weekly.

I am always paid £591 a week.

This is my recent payslip, does this look correct or am I over paying tax?

[SmoothCriminal]

Says on the government website that an 0T tax code means you haven't provided your p45 or your company hasn't worked out a correct tax code for you or you have already used up your personal allowance.

So I put your 40k wage and tax code into the government website and it comes out bang on what you have been paid.

[2 sMoKiN bArReLs]

SmoothCriminal said:

Says on the government website that an 0T tax code means you haven't provided your p45 or your company hasn't worked out a correct tax code for you or you have already used up your personal allowance.

So I put your 40k wage and tax code into the government website and it comes out bang on what you have been paid.

Tax code is 410T?

OP, if you sign in to your HMRC account online you can see how your tax code is arrived at. There's about £8k per year being deducted from your code. Company car etc?

[2 sMoKiN bArReLs]

T just means temporary by the way.

[2 sMoKiN bArReLs]

https://www.tax.service.gov.uk/estimate-paye-take-...

Shows net pay same as yours.

So, it all revolves around your tax code. Check that out & Robert is your Mother's father.

[Driver101]

How come there is no pension contributions on your wage slip?

[2 sMoKiN bArReLs]

Driver101 said:

How come there is no pension contributions on your wage slip?

Good point. New start up company maybe? Or maybe OP has opted out of auto enrolment?

[2 sMoKiN bArReLs]

Employee number 17. Might be new co?

[parabolica]

2 sMoKiN bArReLs said:

Driver101 said:

How come there is no pension contributions on your wage slip?

Good point. New start up company maybe? Or maybe OP has opted out of auto enrolment?

Or his employer, like mine, has deferred auto enrolment to a future date.

[2 sMoKiN bArReLs]

parabolica said:

2 sMoKiN bArReLs said:

Driver101 said:

How come there is no pension contributions on your wage slip?

Good point. New start up company maybe? Or maybe OP has opted out of auto enrolment?

Or his employer, like mine, has deferred auto enrolment to a future date.

Aha, I thought that boat had sailed by now!

[Countdown]

OP - how do you get paid during months with 5 weeks?

[Flooble]

2 sMoKiN bArReLs said:

Aha, I thought that boat had sailed by now!

3 months from starting isn't it?

https://thepeoplespension.co.uk/help/knowledgebase...

[2 sMoKiN bArReLs]

Countdown said:

OP - how do you get paid during months with 5 weeks?

It's all a bit odd!

[V8 WUU]

Thanks Guys, so do I take it that the tax code is wrong, however £591/Week is correct?

Yes funnily enough we had a discussion today about 5% (and 3% employer) pension contribution. Apparently the company has been accidentally paying the full 8% or some such. So 5% will be coming out of my net pay going forward!


Yes during a month with 5 Fridays, I get 5 payments! TBH I thing monthly pay would be easier, but wouldn't go down well with a lot of the guys...

[2 sMoKiN bArReLs]

Yep, check out your tax code

[AndyAudi]

V8 WUU said:

..Yes funnily enough we had a discussion today about 5% (and 3% employer) pension contribution. Apparently the company has been accidentally paying the full 8% or some such. So 5% will be coming out of my net pay going forward

Someone else may be able to confirm but I think depending on the pension scheme, the deduction should be 5% of “Gross” Pay
ie £166.66 before you tax is calculated
or if your employer is using a scheme like NEST, the deduction would be made after tax (£166.66 X 80%) £133.33 and the pension provider claims back the tax on your scheme.

[AndyAudi]

Not sure if this has been missed or I have misinterpreted, you get £591 a week every week, or x 52 - £30,372 take home a year this doesn’t match your payslip/s?

If others are saying tax deductions are correct & £2421.41 is “Monthly Take home” should weekly payments be £558.81?
(Before any pension deductions)

Can someone confirm if I’m wrong & this guy’s not actually being over paid?

Edited by AndyAudi on Wednesday 23 October 04:40