Total tax paid
£2,008
Did you know your employer also pays tax on your salary? It costs the employer £1,910 to pay you £12,692. In other words, every time you spend £10 of your hard-earned money, £1.58 goes to the government.
Real tax rate
13.8%
So, with you and the employer both paying tax, what used to be a 0.8% tax rate now rises to 13.8%, meaning your real tax rate is actually 13% higher than what it seemed at first.