How much tax, national insurance and student loan repayment should I pay on a salary of £20,000?
I have just been offered a job with a salary of £20,000. I’m trying to work out my finances and how much disposable income I’ll have but i’m stuck trying to work out exactly how much tax etc I’ll have to pay. My student loan totals £16,000 (eek!).
Many thanks for any help you can give
I use the website www.listentotaxman.com, it allows you to put in your gross salary and it will calculate your tax and NI contributions, and there is also an option for student loan repayment.
Earning £20000, your annual salary after tax will be approximately £14939:
£2,983.00 deducted for tax
£1,628.00 deducted for NI
£450.00 deducted for student loan repayment
