Calculating Taxable Income And Take Home Pay For 2013/14 For People Who Are Taxed Under Paye

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Calculating taxable income and take home pay
12.2.2.51
for 2013/14 for people who are taxed under PAYE
Extent: England, Wales, Scotland and N Ireland
March 2013
This calculation sheet does not apply to payments into a personal pension or a retirement
annuity, income from a trust, venture capital, estate income or self-employed income.
Income from savings is not included because it is assumed that tax has already been paid.
This calculation sheet should only be used when calculating the take home pay on the client’s sole or
main source of earned income, either from employment or a pension. It does not include tax
underpaid or overpaid.
The calculation will give in Box N an estimate of take home pay.
Total taxable income
The amount in Box E is taxed in the following
Box A
way
Income from employment
(enter gross annual amount)
Tax payable
If client pays into an occupational
£0 - £32,010 @ 20%
pension scheme, deduct annual
Box B
contribution
£32,011 - £150,000 @ 40%
Annual taxable pay (Box A minus Box B)
Over £150,000 @ 45%
Pension received - occupational or private
(only enter gross annual amount)
Benefits in kind from employer
Total tax payable
Box F
(for example, a company car.
See 12.2.2.56. Taxation of benefits
Less:
in kind)
Taxable state benefits
Married couple’s allowance @ 10%
(only available if either spouse or civil partner
(RP, JSA, IB, ESA, enter gross annual amounts.
born before 6 April 1935. See 12.2.2.2. Income
See 12.2.2.0. Tax exempt and taxable income)
tax allowances)
Total taxable income
Box C
Box G
Allowances
Box F minus Box G gives
Box D
Personal allowance
Annual tax payable
Box H
Blind person’s allowance
(
these allowances are given by
deduction from income. See 12.2.2.2.
Income tax allowances)
Box C minus Box D gives
Taxable income
Box E

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