Summary
If you make £16,702,400 a year living in United Kingdom, you will be taxed £8,041,569. That means that your net pay will be £8,660,831 per year, or £721,736 per month. Your average tax rate is 48.2% and your marginal tax rate is 48.3%. 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 £48.25, hence, your net pay will only increase by £51.75.
Bonus Example
A £1,000 bonus will generate an extra £518 of net incomes. A £5,000 bonus will generate an extra £2,588 of net incomes.