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The original was posted on /r/ukpersonalfinance by /u/Minimum-Pay-4169 on 2023-09-24 17:24:32.
Hi, it is more of a Just money/salary question that budgeting. So, i recently started a new job which by contract pays 24k per year. Using online calculators, i estimated that after deductions (NI and tax) i will receive around 1650-1690 (dont remember exact amount). Someone on reddit on 24k also confirmed it.
However, on Friday i received my 1st pay and it was 1800!! It was weird because i have not done any overtime and i even started a day after September had started (1st sep was Friday, i started on monday). I have given them my NI, so idk where the money come from. What do u think has happened?
Is this your first job since April of this year? If so, you have a tax-free personal allowance of around £12k (I think) every year, which means the first £12k earnt (from April to April) is not taxed. If you look on your payslip, it should confirm that you paid no taxes or NI this time around. Enjoy the tax-free earning and look out for the unpleasant shock when they do kick in!
