iCalculator UK PAYE Calculator is updated for the 2013 / 2014 tax year. You can calculate your take home pay based of your annual income and include tax deductible elements such as pensions and student loans.
iCalculator also provides historical UK PAYE figures so you can review how much tax you have paid in previous tax years or you can use our take home pay calculator 2013 / 2014 to see home much your take home salary will be this year. See the guide below for specific information on each element that is taken into account when calculating your take home pay including employers national insurance contributions and more.
Employees National Insurance Contributions
National Insurance is a mandatory wage deduction which is used to fund certain state benefits such as your pension.
You pay National Insurance contributions if you're an employee or self-employed and you're aged 16 and over, as long as your earnings are more than a certain level. You pay National Insurance Contributions upto reaching Pension age.
Can I reduce my National Insurance Payments?
There are a number of legal and legitimate ways of reducing the amount of National insurance that your pay, read this article for examples of how you can pay less National Insurance.
Who has to pay National Insurance?
- All those who are employed and under the Pension Age (currently 65 years of age)
- All self-employed under the Pension Age (currently 65 years of age pay Class 2 National Insurance Contributions
- All self-employed over the Pension Age (currently 65 years of age pay Class 4 National Insurance Contributions
What are voluntary National Insurance Contributions?
Certain individuals elect to pay voluntary National Insurance Contributions because they are not required, in their current circumstance, to pay National Insurance Contributions.
Individuals may elect to pay voluntary National Insurance Contributions because:
- They haven't paid sufficient National Insurance Contributions in previous years and need to 'top up' their contributions in order to qualify for a state pension or other state benefits.
- They are not working and not claiming any State Benefits.
- They are Living and working overseas but wish to maintain their State Benefits entitlement.
Income, Tax Allowances and your Pay - Further Reading.
- What is Gross Pay?
- What is my Tax Free Allowance
- What is my Taxable Pay?
- How much Tax do I have to pay?
- What are National Insurance Contributions (NIC's)
- How much do I have to repay on my Student Loan?
- What are Pension Contributions and how do they reduce my National Insurance Contributions?
- Does HMRC pay towards my Pension?
- What are all those deductions in my Pay?
- What is Net Pay?
- What is Employers NIC?
- Blind Person's Allowance
- Married Couple's Allowance - available to civil partners
- Giving to Charity, how does it benefit me?
- How long is a Tax Year?
- How do I get a Tax Rebate?
- What is the State Pension?
- What are State Benefits?