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New 10p tax rate if it gets put into action will i be better or worse off?


I start a job in june earning 拢11750 (Before tax and NI which isnt bad for a 17 year old lol) can you please tell me at this moment in time with current tax rates how much i will clear after tax monthly as it is a salary i will recieve, and how much worse or better off i will be with the new 10p tax rate. I am 17 and living with my parents at the moment :)

Many Thanks

拢776.90 +/-

There is no new 10p tax rate. The gov is abolishing the 10p tax rate, so now you will pay 20 - 22% so you are guaranteed to be worse off

You were only entitled to the 10p tax rate on the first 拢2200 ish of your salary.
As a rough esitimate you should be left with around 拢750 p/m to spend.
Tax and NI usually take around 24% of your gross pay

My income is just below that and I will be better off.

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