Craig Oates
2 months ago
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#+options: ':nil *:t -:t ::t <:t H:3 \n:nil ^:t arch:headline author:t |
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#+options: stat:t tags:t tasks:t tex:t timestamp:t title:t toc:t todo:t |:t |
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#+title: UK Wage and Tax Rates |
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#+date: \today |
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#+author: Craig Oates |
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#+email: craig@craigoates.net |
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#+language: en |
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#+select_tags: export |
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#+exclude_tags: noexport |
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#+creator: Emacs 29.1.90 (Org mode 9.7-pre) |
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#+cite_export: |
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* Overview of UK Minimum/Living Wage and Tax Rates |
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- [[https://www.gov.uk/national-minimum-wage-rates][UK National Minimum/Living Wage Rates]] |
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Because I am over 21 years of age, at the time of writing, I'm only going to be |
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dealing with the 'Over 21' rates. |
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#+begin_src lisp :results output raw |
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(let* ((min-wage 11.44) ; April 2024 |
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(day-wage (* min-wage 8)) |
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(wk-wage (* day-wage 5)) |
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(mth-wage (* wk-wage 4)) |
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(ann-wage (* mth-wage 12))) |
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(format t "|Time Span|Wage (£)|~%") |
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(format t "|-|-|~%") |
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(format t "|Day (8 Hrs)|~a|~%" day-wage) |
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(format t "|Week (5 Day, 40 Hrs)|~a|~%" wk-wage) |
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(format t "|Month|~a|~%" mth-wage) |
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(format t "|Year|~a|~%" ann-wage)) |
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#+end_src |
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#+RESULTS: |
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| Time Span | Wage (£) | |
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|----------------------+-----------| |
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| Day (8 Hrs) | 91.52 | |
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| Week (5 Day, 40 Hrs) | 457.59998 | |
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| Month | 1830.3999 | |
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| Year | 21964.799 | |
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*Note:* These figures don't take into account holiday/sick pay. These figures are |
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just to give me a ballpark figure of what the UK government considers the bare |
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minimum one should expect to earn in the UK from April 2024. |
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* Income Tax Rates (upto 5th April 2024) |
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- [[https://www.gov.uk/income-tax-rates][UK Income Tax Rates]] |
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| Band | Taxable income | Tax rate | |
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|--------------------+---------------------+----------| |
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| Personal Allowance | Up to £12,570 | 0% | |
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| Basic rate | £12,571 to £50,270 | 20% | |
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| Higher rate | £50,271 to £125,140 | 40% | |
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| Additional rate | over £125,140 | 45% | |
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