UK Income Tax Calculator Results

Salary and Net Income

• Salary of £50,000. Tax code of 1000L. Fiscal Year 2014/2015
• Annual net income is £36,141 (£3,012 per month)
• Net Income is72% of salary.

PAYE and NI Taxes

• Income tax (PAYE) is £9,627 (£802 per month) - 19% of salary
• National Insurance (N.I) is £4,231 (£352 per month) - 8% of salary
• Total taxes are £13,858 (£1,154 per month) - 28% of salary
• You are a higher rate tax payer.

Cost to employer

• Employers N.I is £5,802 per year.
• Total cost to employer is £55,802 per year.

Earning more

• An annual salary rise of £1,000 (2%) yields annual net income of £36,721 a year (£3,060 per month) - an increase of £580 per year (£48 per month)
• To earn an extra £100 net income per month requires an annual salary increase of £2,073 (4%) to £52,073.

You can compare the income from salaries using the Permanent Salary Comparison Calculator

To find out how to earn your desired income use the Target Income Calculator