the table or rotate phone to view in landscape2023 - 2024 Income Tax and NI calculator
Personal Allowance 2023/2024
What is Personal Allowance? Personal Allowance is the portion of your earning where tax is not applied, making that portion of your earning tax free.
| Earning | Personal Allowance (per year) | |
|---|---|---|
| If you are earning up to £100,000 | £12,570 | |
| If you are earning between £100,000 and £125,140 | Decreases from £12,570 by 50% of every pound you earn (above £100,000) until it reaches £0 | |
| If you are earning £125,140 or more | £0 |
|
| Blind person receive an additional amount of £2870 on top of the personal allowance | ||
Tax Rates 2023/2024
These rates apply to different portions of your earnings
Tax rates for Eng, Wales & N.Ireland
| Your earning [per year if you have full standard Personal Allowance] | Tax Rate 2023 - 2024 | That is |
|---|---|---|
| Up to £12,570 | No tax taken | £0 |
| £12,571 - £50,270 | 20% | Basic rate |
| £50,271 - £125,140 | 40% | Higher rate |
| over £125,140 | 45% | Additional rate |
Tax rates for Scotland
| Your earning [per year if you have full standard Personal Allowance] | Tax Rate 2023 - 2024 | That is |
|---|---|---|
| Up to £12,570 | No tax taken | £0 |
| £12,571 - £14,732 | 19% | Starter rate |
| £14,733 - £25,688 | 20% | Basic rate |
| £25,689 - £43,662 | 21% | Intermediate rate |
| £43,663 - £75,000 | 42% | Higher rate |
| £75,001 - £125,140 | 45% | Advanced rate |
| over £125,140 | 48% | Top rate |
National Insurance rate 2023/2024
National Insurance Contribution is payable by everyone, until you have reached the state retirement age. National Insurance pays for your state pension and other state benefits.
These rates below apply to different portions of your earning.
Note: In 2023/2024 tax year, NI rates were changed mid year
National Insurance rates from 6 April 2023 to 5 January 2024
| Your Earning [Per year] |
National Insurance Rate | That is |
|---|---|---|
| Earnings up to £12,570 | 0% | No National Insurance contribution is payable |
| Earnings between £12,570 and £50,270 | 12% | Salary minus £12,570 = X, 12% of X |
| Earnings £50,270 or more | 2% | £50,270 minus £12,570 = £37,700, 12% of £37,700 plus salary minus £50,270 = X, 2% of X |
National Insurance rates from 6 January 2024 to 5 April 2024
| Your Earning [Per year] |
National Insurance Rate | That is |
|---|---|---|
| Earnings up to £12,570 | 0% | No National Insurance contribution is payable |
| Earnings between £12,570 and £50,270 | 10% | Salary minus £12,570 = X, 10% of X |
| Earnings £50,270 or more | 2% | £50,270 minus £12,570 = £37,700, 10% of £37,700 plus salary minus £50,270 = X, 2% of X |
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Disclaimer: I am not a tax professional, so please do not use this information to make any big decisions. Do consult a professional when making any decisions.