Income Summary - £40,000
Gross Income: £40,000
Estimated Tax Deducted: £7,540
National Insurance: £3,180
Net Income: £29,280
Tax Breakdown
Personal Allowance (0%) applied to the first £12,570
Basic Rate (20%) on income up to £50,270
Higher Rate (40%) beyond £50,270
Additional Rate (45%) above £150,000
National Insurance Breakdown
Below Primary Threshold (0%) applied up to £9,568
Between PT and UEL (12%) applied between £9,568 and £50,270
Above UEL (2%) applied above £50,270