£20,000 After Tax

If your salary is £20,000, then after tax and national insurance you will be left with £17,622. This means that after tax you will take home £1,469 every month, or £339 per week, £67.80 per day, and your hourly rate will be £9.63 if you're working 40 hours/week.


Scroll down to see more details about your 20,000 salary


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Gross Income

£

Monthly net

£1,469

Monthly tax: £124

Monthly NI: £74

Advanced options (st. loan, pension contr., etc.)


Tax Calculator Results For £20,000

<- Scroll left-right ->
YearMonthWeekDayHour
Gross Wage£20,000£1,667£385£77.00£9.63
Tax£1,486£124£29£5.80£0.73
NI£892£74£17£3.40£0.43
Net Wage£17,622 £1,469£339£67.80£8.48
Employer's cost£21,569£1,797£415£83.00£10.38
Employer's NI£1,569£131£30£6.00£0.75


£20,000 Salary After Tax Video Explanation

Tax bands for £20,000

Income Tax Bands

Tax free:

£12,570
0%

Earnings in this tax band: £7,430

Tax in this band: £ 1,486
20% rate

Earnings in this tax band: £0

Tax in this band: £0
40% rate
National Insurance Bands

NI free:

£12,569
0%

Earnings in this NI band: £7,431

NI in this band: £892

12% rate

Earnings in this NI band: £0

NI in this band: £0

2% rate

yearly gross

£20,000
£1,469

monthly net



Payslip simulator for £20,000 salary

<- Scroll left-right ->
Employee No
015
Employee Name
John Smith
Process Date
01/Mar/2024
National Insurance Number
NH000000F
Payments
Salary
Units
173.33
Rate
9.63
Amount
1,667
Deductions
PAYE Tax
National Insurance
Amount
124
74

£20,000 After Tax Explained

£20,000 After Tax

This is a break-down of how your after tax take-home pay is calculated on your £20,000 yearly income.

If you earn £20,000 in a year, you will take home £17,622, leaving you with a net income of £1,469 every month.

Now let's see more details about how we've gotten this monthly take-home sum of £1,469 after extracting your tax and NI from your yearly £20,000 earnings.

Your tax

You will pay a total of £1,486 in tax per year, or £124 per month.

  • You'll pay no tax on the first £12,570 that you're earning.
    • This is your yearly personal allowance.
    • This will give you £1,048 per month of tax free earnings.
  • You will pay £1,486 tax at the basic tax rate of 20%.
    • £7,430 of your earnings qualify to be taxed at 20%.
  • You will pay £0 tax at the higher tax rate of 40%.
    • £0 of your earnings qualify to be taxed at 40%.
  • You will pay £0 tax at the additional tax rate of 45%.
    • £0 of your earnings qualify to be taxed at 45%.

Your National Insurance

Apart from tax, you'll also need to pay National Insurance on your £20,000 income.

You will pay a total of £892 in National Insurance.

  • You'll pay no National Insurance on the first £12,569 that you're earning.
    • This is your yearly National Insurance threshold.
    • This will give you £1047 of earnings per month that will not be liable for National Insurance.
  • You'll pay £892 in National Insurance at the 12% rate.
    • £7,431 of your earnings qualify for the 12% rate NI.
  • You'll pay £0 in National Insurance at the 2% rate.
    • £0 of your earnings qualify for the 2% rate NI.

Your Hourly Rate

If you're working full-time, 40 hours a week, then your hourly rate will be £9.63.



If you need to adjust your £20,000 income, or add Student Loan, Pension Contributions, or select other options available, please scroll up and change these values in our main calculator, then click the "Calculate" button.

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