Thread: Salary Calculation
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Old 07-01-2018, 17:18   #7
SimpleSimon
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Re: Salary Calculation
If you are a basic rate taxpayer then the following gives you how much tax you pay on your combined monthly salary/car allowance.

Tax = (Monthly Gross Salary + Car Allowance - 1054.17) x 0.2

This gives you the total tax paid in a month.

To work out how much tax you pay on your car allowance use the following.

(Car Allowance / Salary) x Tax(from above)

Obviously this is approximate figures.
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