If you earn 40,000 a year?

Question

How much take home pay would you get if you earned 40,000 a year? How much would you receive each month after tax?

Answer 1

If you include tax, NI and pension it comes to just over £2k a month.

Answer 2

Rates of tax – how much you pay

Once you have used up your tax-free amount you will pay tax on

a sliding scale on whatever is left over.

For the tax year 2007–2008 the rates of tax are

• £1 - £2,230 10% - the starting rate

• £2,231 - £34,600 22% - the basic rate

• More than £34,600 40% - the higher rate

At Budget 2007, the Chancellor announced that for 2008-2009

the starting rate of 10% will be limited to savings income and the

basic rate will be reduced from 22% to 20%.

so in this rate, you will have about £2000 into your bank every month.....

Answer 3

Depends on what your tax code is, assuming its the standard 603L it means you will pay 20% tax on about 34K and 11% National Insurance on 34.5K. Your talking about £3333 per month of which about £560 tax & £315 NI. So take home will be in the region of £2460. Although previous earnings can effect your tax ...

Answer 4

Try this:

http://www.listentotaxman.com/

Your average net pay will be: £2,440.63

Answer 5

approx. 2700 pounds a month

40,000 over 12 months is about 3333.33

20% of 3333.33 is abt 666.66

3333-666 is approx 2700

Answer 6

as this is just under the top earning limit (higher tax)

it is a good indication to take 23% off in tax (income tax plus National insurance - it used to be 25% before the government changed the taxing system)

The rough take home paid would be £30,000 a year (into 12 months) or £2500 per month.

I guess your not really earning this, as you would be able to work it out yourself.

Answer 7

You will receive a nett monthly income of £2434.12

Your gross weekly income will be £762.12, Income Tax will be £132.57 and National Insurance contributions will be £72.83. Your nett weekly earnings will be £561.72.

Multiply this by 52 and divide by 12 you will get the figure given at the beginning of this answer.