USC calculation

Hi guys a little confused here in relation to USC and was wondering if ye could help.

Say if you earn €26k per year I assume USC would be:

12012 X 1.5%= 180.18
5564 X 3.5%= 194.74
8424 X 7%= 589.68
Total €964.60

However if you: 26000/52=€500 per week

Weekly USC
Now get: 231 X 1.5%= 3.47 (12012/52=231)
269 X 3.5%= 9.42 (500-231)
Total 12.89 X 52= €670.28


Bit of a difference there. Could someone explain what I am doing wrong?

Um - your weekly calculation differs enormously from your annual.


Why have you got this
269 X 3.5%

Surely it should be
107 X 3.5%
162 X 7%
?

so-crates said:

Um - your weekly calculation differs enormously from your annual.


Why have you got this
269 X 3.5%

Surely it should be
107 X 3.5%
162 X 7%
?

Click to expand...

Thanks for your reply.

500 split between: 231 X 1.5%
269 X 3.5%
500



231 being 12012/52weeks

Where you have gone wrong is that the 3.5% band is only for €5564 whereas in your calculation,you are using it for almost 14k of income.

Yes, that is exactly what I was trying to say vandriver

Juan Carlos Ortiz, this is wrong
269 X 3.5%

you need to do the following

5564/52 = 107
107 X 3.5% = 3.745 (round up to 3.75)

231 + 107 = 338
500 - 338 = 162

162 X 7% = 11.34

Totalling
3.47 + 3.75 + 11.34 = 18.56
For the year: 18.56 X 52 = 965.12


The discrepancy (52c) is due to my rounding up.

vandriver said:

Where you have gone wrong is that the 3.5% band is only for €5564 whereas in your calculation,you are using it for almost 14k of income.

Click to expand...

Perfect. Getch ya. Thank you.