Salary Rate
Year
Month
Biweekly
Week
Day
Hour
Withholding
Salary
£60,000
Income Tax
- £11,498
National Insurance
- £5,060
Total tax
- £16,558
Net pay
* £43,442
Marginal tax rate
42.0%
Average tax rate
27.6%
72.4%
Net pay
27.6%
Total tax
Total tax
Net pay
Summary
If you make £60,000 a year living in United Kingdom, you will be taxed £16,558. That means that your net pay will be £43,442 per year, or £3,620 per month. Your average tax rate is 27.6% and your marginal tax rate is 42.0%. 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 £42, hence, your net pay will only increase by £58.
Bonus Example
A £1,000 bonus will generate an extra £580 of net incomes. A £5,000 bonus will generate an extra £2,900 of net incomes.
NOTE* Deductions are calculated based on the Great Britain tables of United Kingdom, 2020 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.