Skip to main content

Posts

Showing posts from May, 2014

UK Take Home Salary Calculator 2014-15

UK Salary or personal income has different Tax and National Insurance bandings with different rates your tax and NI is calculated and deducted from your salary before you get paid through PAYE or will have to pay if you are Self Employed through Self Assessment Returns at the end of year. Below table gives you a quick idea of approximately how much tax and national insurance deduction you would expect as an employee at different levels of income. Lot of retail business pay employees on weekly basis and keep one week wage in hand but large corporates pay wages every month before end of month that you worked in. These figures are calculated as an approximate overview during tax year 2014/15 and may be changed by Inland Revenue in future. A breakdown of calculation can be carried out from The Salary Calculator which was used also in calculating below figures.

Basic Annual (£)Tax+NI Deduction (%)Take Home (Year)Take Home (Month)Take Home (Week) 50000%500041796 100002%9756813188 15…