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Saving Tool UK

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Saving Tool Advanced

Saving Tool Advanced is now available!

Take your forecasts much further with the UK's most comprehensive personal finance tool.
View Sample Scenario Go to Saving Tool Advanced ⟶

Salary Calculator London

Use the Saving Tool salary calculator to find out the Income Tax, National Insurance contributions and Student Loan repayments on your salary in the 2024/25 tax year. See your take-home pay by year, month or week.

All UK taxes apply across England, Wales and NI (different rates in Scotland). There are no separate regional taxes, except for council tax, which is charged independently as a household tax (not linked to employment or income).

See below for a full breakdown of the tax you will pay. Add more information such as your workplace pension and student loan repayments for a more detailed picture of your finances.

Your Income

Various assumptions apply
The primary assumptions are that you are a FTE and that standard tax rates for 2024/25 apply to you. For fewer limitations, try Saving Tool Advanced.
£per year (pre-tax)
£per year (pre-tax)
Income from Bonuses, Commission, Overtime, Capital Gains, Investments, etc.
Your Contributions
%
Employer's Contributions
%
Try adjusting your contributions to see how it affects everything.
Tax Residency
England/NI/Wales
State Pension Age
68 (Everyone aged 46 and under)
To get an accurate state pension age, use the gov.uk calculator
Plan 1
Outstanding Balance
£

Your taxes (2024/25)

Please note
This tool makes various assumptions that will make sense for most people, but not absolutely everyone. It is an estimation of the taxes and take-home you will get. Try Saving Tool Advanced if your situation is more complex.
YearMonthWeek
Gross Income£28,500£2,375£548
Pension Contributions£0£0£0
Employer Pension Contributions£0£0£0
Taxable Income£28,500£2,375£548
Personal allowance£12,570--
National Insurance£1,273£106£24
Income Tax£3,186£266£61
Take Home Pay£24,041£2,003£462
HMRC Tax rates and rules last updated May 2024

Your Monthly Expenses

Essential outgoings

Things you have to pay for
£
£
£
£
£
£

Non-essential outgoings

Things you choose to pay for
£

Your Monthly Outgoings

Your Plan

The earliest you can retire with your workplace pension is usually 55. You won't get your state pension until your mid or late 60s, depending on your current age. Tip: try playing around with your target retirement age to see how things change.
£
The total balance of all your existing pension pots.
£
The total balance of any existing ISA Savings accounts (GIAs are not currently supported)

Projected Pension

Wealth & Financial Independence More Info

%
%
%
Financial independence means having enough saved that your expenses will be covered for the rest of your life.

Projected Wealth

Calculations
  • FI Target = Annual outgoings (£17,472) * Years needed for 4.00% SWR (25.00) = £436,800
  • Invested annual pension = £0
  • Invested annual surplus = £2,201
  • Inflation of 2.5% / year
  • Assumes New State Pension, payments increasing with inflation (2.5% / year)
  • Assumes student loans last 30 years max
  • Assumes a flex-drawdown pension for illustration purposes
  • Assumes you draw down pension up to the higher rate bracket (£50,270), then draw down your S&S ISA
  • Pension lump sums are not included