PAYE (on £50,000, Tax code 1257L, Fiscal Year 2022/2023)
Band | Rate | Lower Limit | Upper Limit | Tax |
---|---|---|---|---|
Basic rate | 20% | 0 | £37,700 | £7,486 |
Higher rate | 40% | £37,700 | £150,000 | £0 |
Additional rate | 45% | £150,000 | - | £0 |
Total Tax: | £7,486 |
Employees NI (on £50,000, Fiscal Year 2022/2023)
Band | Rate | Lower Limit | Upper Limit | Tax |
---|---|---|---|---|
Primary threshold | 0% | 0 | £190 | 0 |
rate below upper earnings limit | 13.25% | £190 | £967 | £5,315 |
rate above upper earnings limit | 3.25% | £967 | - | £0 |
Total Tax: | £5,315 |