Question

A welder's annual income is £8400 and allowance is £1950. So his taxable income is £6450. Each month he pays tax of £150.50 as the rate of taxation is 28%.

He receives a pay rise and subsequently pays £162.40 in tax each month. Assuming the same allowances and rate of taxation, what is his new salary?​

Answer 1

Answer:

A welder's annual income is £8400 and allowance is £1950. So his taxable income is £6450. Each month he pays tax of £150.50 as the rate of taxation is 28%.

He receives a pay rise and subsequently pays £162.40 in tax each month. Assuming the same allowances and rate of taxation, what is his new salary?