Who can help me out with a few calculations please?
My girlfriend has just started a new job - only part time - and has got her first payslip. I am trying to work out the calculations behind the deductions for tax and National Insurance.
The details:-
Month 1 - Total Pay £445.50
PAYE Tax £4.90
NIC £5.50
Therefore Net Pay £435.10.
Her tax code is 474L.
I know that this means that she can earn £4745 before being taxed and that she only pays 10% on remainder of earnings but these figures do not calculate correct in above example.
also on her payslip is says that 'earnings for NI are £443.00 - why is that the case?
cheers in advance hopefully
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