You can use this simple calculator to calculate how much tax and national insurance you are required to pay given your salary.
Your calculated tax and national insurance will be shown below.
| Yearly | Monthly | |
|---|---|---|
| Gross Salary | ||
| Personal Allowance | ||
| Taxable Income | ||
| Total Income Tax | ||
| Total NI | ||
| Net Salary |
The current (2020/2021) tax rates, are summarised below, from HMRC . The personal allowance is £12,500 unless you earn over £100,000 in which case it drops by £1 for every £2 earnt over £100,000.
| Band | Income after allowance | Rate |
|---|---|---|
| Basic rate | Up to £37,500 | 20% |
| Higher rate | £37,500 to £150,000 | 40% |
| Additional rate | Above £150,000 | 45% |
The current class 1 national insurance rates as summarised below, from HMRC . The personal allowance is £9,500.
| Band | Income after allowance | Rate |
|---|---|---|
| Primary NI | Up to £50,000 | 12% |
| Additional NI | Above £50,000 | 2% |
To calculate your tax with the addition of interest earnt, please use the UK Tax on interest calculator .