£42,200 After Tax Explained

Now let's see how we've calculated your tax on your £42,200 income.

  • You have a tax free personal allowance of £12,500 (for earnings between Apr 2019-Apr 2020) – this means that on £12,500 from your salary you won’t pay any tax.
  • As your total yearly earnings of £42,200 are above this personal allowance, you will have to pay tax on the earnings that are above this sum - in your case, if we deduct £12,500 from your £42,200 income, we'll be left with a taxable amount of £29,700.
  • This means that out of your total earnings of £42,200, you will pay a total of £5,940 in tax this year, which amounts to £495 per month.
  • Apart from the income tax calculated above, you might also have to pay National Insurance on some part of your salary.
  • Please note: There are different tax rules for Scotland. To calculate you tax and net pay for Scotland, please use our advanced tax calculator.

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National Insurance Explained

Apart from income tax, you might also need to pay National Insurance if you earn above £8,632 this financial year (or above £719/month).

  • As your total yearly earnings of £42,200 are above this threshold , you will have to pay National Insurance on the sum that is above £8,632.
  • This means that a total amount of £33,568 from your earnings will be liable for National Insurance.
  • On this sum, you'll pay a total amount of £4,028 in National Insurance (or £336/month).
  • Here is how NI brackets Works in the UK:
  • You have a NI free earning bracket - you won't have to pay NI for the first £8,632 that you are earning in a year. If you earn above this sum: 12% NI on the earnings between £8,632 and £50,000
  • You’ll pay 12% NI on the earnings between £8,632 and £50,000
  • You’ll pay 2% NI on the earnings above £50,000

£42,200 Yearly Salary Illustration

£ 42,200 after tax break-down

Year Month Week Day Hour
Gross income £42,200 £3,517 £812 £162.40 £20.30
Personal allowance £12,500 £1,042 £240 £48.00 £6.00
Total taxable £29,700 £2,475 £571 £114.20 £14.28
Tax £5,940 £495 £114 £22.80 £2.85
National insurance £4,028 £336 £77 £15.40 £1.93
Net pay £32,232 £2,686 £620 £124.00 £15.50



Payslip for £42,200 salary

This is how your payslip looks like, if you earn £42,200 per year.

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Employee No
015
Employee Name
Boris Johnson
Process Date
04/Apr/2020
National Insurance Number
NH000000F
Payments
Salary
Units
162.40
Rate
20.30
Amount
3,517
Deductions
PAYE Tax
National Insurance
Amount
495
336
<- Scroll left-right ->

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