įor more information on how to read your payslip, click here. To find out more about National Insurance visit. Our Salary Calculator will calculate your NI contributions based on your situation and adjust your estimated take-home pay accordingly. Salary Calculator - Automatically Convert Hourly to Annual Income This salary calculator can be used to estimate your annual salary equivalent based on the wage or rate you are paid per hour. The type you pay depends on your employment status and how much you earn. There are different types of National Insurance. You will pay NI if you are aged 16 or over, earn more than £242 a week, or are self-employed and make a profit of £11,908 or more in a year. In the UK you are required to make National Insurance (NI) contributions in order to qualify for certain benefits like the State Pension. For more information about income tax visit. Our Salary calculator will show you your personal allowance based on your situation and adjust your estimated take-home pay accordingly. Your personal allowance might be higher if you claim Marriage Allowance or Blind Persons Allowance. Income Tax is a tax you pay on any income that exceeds your Personal Allowance, which is currently set at £12,570. This is also known as your 'take-home pay'. Net income is your total income after tax and other deductions are made. Customize the salary calculator by including or excluding unpaid time, such as vacation hours or holidays. Pension payment and student loan repayments are examples of other deductions that might be made from your gross income. The salary calculator converts your salary to equivalent pay frequencies, including hourly, daily, weekly, bi-weekly, monthly, semi-monthly, quarterly and yearly. In the UK your salary is subject to Income Tax and National Insurance contributions. Gross income, also known as gross pay, is your total income before any tax or other deductions are made. įeel free to contact your local Blue Arrow branch if you require any further information about your pay. For further information regarding UK Income Tax rates and Personal Allowances visit.
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