Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
£31,000
Income Tax
- £3,684
NIC (National Insurance Contribution)
- £2,572
Total tax
- £6,256
Net pay
* £24,744
Deductions ?
A deduction is a specific amount you can remove from your taxable income to lower it.
close-button
- £12,579
Marginal tax rate
32.0%
Average tax rate
20.2%
79.8%
Net pay
20.2%
Total tax
Total tax
Net pay
Summary
If you make £31,000 a year living in United Kingdom, you will be taxed £6,256. That means that your net pay will be £24,744 per year, or £2,062 per month. Your average tax rate is 20.2% and your marginal tax rate is 32.0%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of £100 in your salary will be taxed £32, hence, your net pay will only increase by £68.
Bonus Example
A £1,000 bonus will generate an extra £680 of net incomes. A £5,000 bonus will generate an extra £3,400 of net incomes.
NOTE* Withholding is calculated based on the tables of United Kingdom, income tax. For simplification purposes some variables (such as marital status and others) have been assumed. This document does not represent legal authority and shall be used for approximation purposes only.