How £15,000 is taxed
The first £12,570 is tax-free. The remaining £2,430 all falls in the 20.0% basic rate band, so Income Tax is £486. National Insurance is 8% of your earnings above £12,570: £194.40.
Altogether, Income Tax and National Insurance take 4.5% of your salary. Of your next £1,000 pay rise, you'd keep £720.00.
£15,000 as an hourly wage
£15,000 a year works out at £7.69 an hour on a 37.5-hour week, or £7.21 on a 40-hour week, before tax. See £11 an hour for take-home pay at an hourly rate.
What changes your take-home
The same £15,000 salary in some common situations, compared with the figures above.
| Situation | Per month | Per year | Difference |
|---|---|---|---|
| Standard (as above) | £1,193.30 | £14,319.60 | - |
| With a 5% salary sacrifice pension | £1,148.30 | £13,779.60 | −£540.00 |
| With a Plan 2 student loan | £1,193.30 | £14,319.60 | - |
| With a Plan 5 student loan | £1,193.30 | £14,319.60 | - |
| Paying Scottish Income Tax | £1,195.33 | £14,343.90 | +£24.30 |
In Scotland, take-home on £15,000 is £14,343.90 a year: £24.30 more than in the rest of the UK, because Scotland sets its own Income Tax bands. A salary sacrifice pension costs you less than it puts in your pot because it comes off before tax and National Insurance.
Nearby salaries
| Salary | Take-home per month | Take-home per year |
|---|---|---|
| £16,000 after tax | £1,253.30 | £15,039.60 |
| £17,000 after tax | £1,313.30 | £15,759.60 |
| £18,000 after tax | £1,373.30 | £16,479.60 |
See take-home pay for every salary from £15,000 to £200,000.