Note: From the 2010-11 tax year the Personal Allowance reduces where the income is above £100,000 – by £1 for every £2 of income above the £100,000 limit. Because your income is above £100,000 your tax allowance has been reduced from £12,500 to £5,990.
PAYE (on £113,007, Tax code 599L, Fiscal Year 2019/2020)
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| Basic rate | 20% | 0 | £37,500 | £7,500 |
| Higher rate | 40% | £37,500 | £150,000 | £27,806 |
| Additional rate | 45% | £150,000 | - | £0 |
| Total Tax: | £35,306 |
Employees NI (on £113,007, Fiscal Year 2019/2020)
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| Primary threshold | 0% | 0 | £166 | 0 |
| rate below upper earnings limit | 12% | £166 | £962 | £4,967 |
| rate above upper earnings limit | 2% | £962 | - | £1,259 |
| Total Tax: | £6,226 |