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Understanding how much income tax you owe is essential to keeping your finances in check and your budget in check. Use our income tax calculator below to see how much tax you’ll have to pay and how much of your income you can bring home.
Our income tax calculator is free and easy to use. Simply enter your annual income and our calculator will show you not only how much tax and national insurance you will pay, but also what your net income (per week, month and year) will be for you to effectively plan your finances.
This calculator is also a useful tool if you are moving or negotiating a raise. It will give you an accurate picture of your new net income as a result of a raise.
What is income tax?
Income tax is a tax you pay on your income and for most people it is paid through your employer’s PAYE system. Each employee will have a tax code that will tell your employer how much to deduct from your gross pay.
If you are self-employed, you can pay income tax through a tax return every year.
What is national insurance?
You will pay compulsory national insurance if you are over 16 and either:
- employed and earning over £ 184 per week
- self-employed and making a profit of £ 6,515 or more per year.
Payment of national insurance contributions allows you to claim special benefits and state pension.
About our income tax calculator:
Calculations are for a single taxpayer and based on the current tax year.
If you believe you paid the incorrect tax amount, contact HMRC.