Calculate take home salary uk
This UK Take Home Salary Calculator helps employees estimate their net income after tax and National Insurance deductions. It considers current tax rates (2023/24), personal allowances, and NI contributions. Users can input their gross salary and tax code to get accurate net pay calculations for better financial planning.
Enter your gross annual salary and tax code (optional):
How It Works
The calculator uses HMRC's latest tax bands and NI rates. It deducts Income Tax (20-45%), National Insurance (12-2%), and considers personal allowance. For accurate results, enter your tax code if known (default 1257L for £12,570 allowance).
FAQs
1. How accurate is this salary calculator?
This calculator uses current HMRC tax rates and NI contributions for 2023/24. It provides accurate estimates for most employees but doesn't account for pension contributions or student loans. Always consult a financial advisor for precise calculations.
2. What if I don't know my tax code?
The default 1257L tax code is used if left blank, giving the standard £12,570 personal allowance. If your code differs (e.g. K codes or emergency tax), enter it for more accurate results.
3. Does this include National Insurance?
Yes, the calculator deducts both Income Tax and National Insurance contributions using current rates: 12% NI on earnings between £12,571-£50,270 and 2% above £50,271.
4. Can self-employed people use this?
No, this calculator is designed for PAYE employees. Self-employed individuals have different NI contributions and tax payment schedules not accounted for here.
5. How are student loans handled?
This calculator doesn't include student loan repayments. Actual take-home pay may be less if you have Plan 1, 2, or 4 student loan deductions from your salary.
6. What about pension contributions?
The calculator doesn't factor in workplace pension schemes. If you pay into a pension (auto-enrollment or salary sacrifice), your take-home pay will be higher than shown here.
7. Why is my actual paycheck different?
Differences may occur due to bonuses, overtime, benefits-in-kind, or tax code adjustments. This calculator assumes regular monthly pay and standard deductions.
8. How often is this updated?
We update tax rates annually with each new tax year. The current version uses 2023/24 rates effective from April 6, 2023 to April 5, 2024.
9. What's the difference between gross and net pay?
Gross pay is your total salary before deductions. Net pay (take-home) is what remains after deducting Income Tax, National Insurance, and other mandatory contributions.
10. How does tax code affect my salary?
Your tax code determines your personal allowance and how much tax you pay. An incorrect code could mean over/underpayment. Check your P60 or HMRC online account for your current code.