P. Urmston is paid monthly. For June 2012 he earns 1,500 and also receives statutory sick pay
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P. Urmston is paid monthly. For June 2012 he earns £1,500 and also receives statutory sick pay of £150. He pays £90 superannuation which is allowed as a relief against income tax and he has further reliefs (free pay) of £350. The taxable pay is taxed at the rate of 20 per cent on the first £250 and 25 per cent thereafter. He pays National Insurance of £130 for the month. Calculate his net pay for the month.
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Related Book For
Frank Woods Business Accounting
ISBN: 9780273759287
12th Edition
Authors: Frank Wood. Sangster, Alan
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