If my gross pay is £50,000 p.a., what is my after-tax pay?

Question

How much tax will I have to pay? What tax bracket will I be in? I need a rough guide, thanks very much.

Answer 1

It depends on your circumstances. The best way for you to find out would be to go to www.listentotaxman.com and use the online calculator.

Answer 2

Hello

I earn about £50,000 and pay 40% tax

i pay approx £900 per month tax, £230 National Insurance per month and £250 company pension contributions per month leaving me with approx £2800 per month. Of course it won't be exactly the same for someone else but hope that helps as a guide

Answer 3

At that salary/ pay you will pay 40% in income tax plus national insurance. You also need to take into account company car allowances if you have one, plus at this salary level the impact of other benefits such as medical insurance which are treated as benefits in kind. Best thing is to check with a friendly accountant (btw which I am not, well I am friendly but not an accountant!

Answer 4

Hello there;
Assuming your total earning of £ 55,000 inclusive of all benefits in kind your various deductions are as follows;

Annual earnings (after Tax and NI): £ 35,179
Total annual deductions £ 14,821
Monthly earnings (after Tax and NI): £ 2,932
Weekly earnings (after Tax and NI): £ 6,77

These figure will vary subject to other types of income that you receive during the year.You will be grouped as a high rate tax payer (40%). your income will be taxed as follows

Starting rate 10% up to £2,150
Basic rate 22% from £2,151 to £33,300
Higher rate 40% over £33,300

Answer 5

i get paid just under 55,000 a year and i get tax about £1100 a month but that includes national insurance

Answer 6

2914 a month is what you will walk out with after tax and n.i.