I'm set up to earn minimum wage or just around that, meaning my net salary ends up as £9372.88 (from £10968 gross).
My monthly salary figures are not the same through the year though... for about the first half of the year they are about £820 and then they change to £730.
Similarly, my montly PAYE/NI amounts payed by MyCo are ~£92 for the first few months and then raise to £300.
The totals all seem fine, but why do they do it this way? Am I paying less tax until my income reaches the first tax threshold, it looks about right for this but why bother when things are worked out annually?
My monthly salary figures are not the same through the year though... for about the first half of the year they are about £820 and then they change to £730.
Similarly, my montly PAYE/NI amounts payed by MyCo are ~£92 for the first few months and then raise to £300.
The totals all seem fine, but why do they do it this way? Am I paying less tax until my income reaches the first tax threshold, it looks about right for this but why bother when things are worked out annually?
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