Required Salary Calculator
Wondering how much you will need to earn to support the lifestyle you want? Use the Required Salary Calculator to find what you need:
How to use the Required Salary Calculator
To find out what salary you need to support the lifestyle of your dreams, enter the monthly take-home value you need in the "Monthly" box.
If you know your tax code, enter it into the tax code box for a more accurate take-home pay calculation. If you are unsure of your tax code just leave it blank and the default code will be applied.
If you have a pension which is deducted automatically, enter the percentage rate at which this is deducted and choose the type of pension into which you are contributing. Pension contributions are estimates, click to learn more about pension contributions on The Salary calculator.
If you receive Childcare vouchers as part of a salary sacrifice scheme, enter the value of the vouchers you receive each month into the field provided. If you signed up for the voucher scheme before 6th April 2011, tick the box - this affects the amount of tax relief you are due.
Select your age range from the options displayed. If you are married, tick the "Married" box. Similarly, tick the "Blind" box if you are blind.
New! If you do not pay National Insurance, for example, if you are over State Pension Age, tick the "No NI" box.
New! There are now two repayment methods for Student Loans, which are known as Plan 1 (same as the original method) and Plan 2. If you are repaying a student loan for a course which started before 1st September 2012, tick "Plan 1", if you are repaying a student loan for a course which started on or after 1st September 2012, tick "Plan 2".
You can now choose the tax year that you wish to calculate. By default, the 2016 / 17 tax year is applied but if you wish to see salary calculations for other years, choose from the drop-down.
When you're done, click on the "Go!" button, and the table on the right will display the information you requested from the tax calculator. You'll be able to see the gross salary, taxable amount, tax, national insurance and student loan repayments on annual, monthly, weekly and daily bases.
This is based on Income Tax, National Insurance and Student Loan information from April 2016. More information on tax rates here.
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