Simply enter your annual gross salary and bonus into the calculator above & click calculate.
Then run the calculator again but without including your bonus.
The difference between the two figures above will equal your net bonus.
How to ensure you are on the right PAYE tax code
Go to PAYE calculator above.
Make sure the ‘tax year’ is set to the current one and the right age band is selected.
Don’t worry about the ‘tax code’ field or the email field but fill/tick the others if relevant.
Then enter your annual gross salary and click ‘calculate’.
The calculator will tell you the net amount you should be receiving each month (or week) after tax and national insurance. If this number pretty much matches the net amountthat goes into your bank account each month (or the net amount on your payslip), that’s great. It would seem that you are paying the right amount of income tax and that you are entitled to the full income tax personal allowance (which is the amount you can earn tax-free).
But if the figure was not what you had expected then:
Get your latest payslip.
Check that there aren’t any deductions that you forgot to include in the calculator, such as pension contributions.
If there aren’t then check the tax code printed on the payslip – it’s unlikely to be the bog-standard 1000L.
While you may be considering checking your credit report before you apply for credit, knowing the best way to view...
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