Take-Home Tax Calculator

     

Wondering how much difference that pay rise would make? The April 2014 values have now been made available to show you the most up-to-date information. Use the Take-Home Salary Calculator to work out just how much more you will have each month:

Salary:
Age:
To provide additional (optional) information, choose from the headings above.
Know your tax code?
Repaying your Student Loan?
Getting a bonus in your pay?
Hours of overtime each month: hours at x normal rate
hours at x normal rate
Do you contribute to a pension?
%
Monthly childcare vouchers:
Do you make a salary sacrifice?
Every
Other monthly deductions?
Tax Year:
YearlyMonthlyWeeklyDaily
Gross Income0.000.000.000.00
Pension Deductions0.000.000.000.00
Childcare Vouchers0.000.000.000.00
Salary Sacrifice0.000.000.000.00
Pre-tax deductions0.000.000.000.00
Taxable Income0.000.000.000.00
Tax0.000.000.000.00
National Insurance0.000.000.000.00
Student Loan0.000.000.000.00
Post-tax deductions0.000.000.000.00
2014 Take Home0.000.000.000.00
0.000.000.000.00

*Daily values based on a 5-day working week

How to use the Take-Home Calculator

To use the tax calculator, enter your annual salary (or the one you would like) in the "Salary" box.

New! If you are earning a bonus payment one month, enter the value of the bonus into the bonus box for a side-by-side comparison of a normal month and a bonus month.

Find out the benefit of that overtime! Enter the number of hours, and the rate at which you will get paid. For example, for 5 hours a month at time and a half, enter 5 @ 1.5. There are two options in case you have two different overtime rates. To keep the calculations simple, overtime rates are based on a normal week of 37.5 hours.

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 2014 / 15 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 2014. More information on tax rates here.

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