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2.1 KiB
2.1 KiB
UK Wage and Tax Rates
Overview of UK Minimum/Living Wage and Tax Rates
Because I am over 21 years of age, at the time of writing, I'm only going to be dealing with the 'Over 21' rates.
(let* ((min-wage 11.44) ; April 2024
(day-wage (* min-wage 8))
(wk-wage (* day-wage 5))
(mth-wage (* wk-wage 4))
(ann-wage (* mth-wage 12)))
(format t "|Time Span|Wage (£)|~%")
(format t "|-|-|~%")
(format t "|Day (8 Hrs)|~a|~%" day-wage)
(format t "|Week (5 Day, 40 Hrs)|~a|~%" wk-wage)
(format t "|Month|~a|~%" mth-wage)
(format t "|Year|~a|~%" ann-wage))| Time Span | Wage (£) |
|---|---|
| Day (8 Hrs) | 91.52 |
| Week (5 Day, 40 Hrs) | 457.59998 |
| Month | 1830.3999 |
| Year | 21964.799 |
Note: These figures don't take into account holiday/sick pay. These figures are just to give me a ballpark figure of what the UK government considers the bare minimum one should expect to earn in the UK from April 2024.
Income Tax Rates (upto 5th April 2024)
| Band | Taxable income | Tax rate |
|---|---|---|
| Personal Allowance | Up to £12,570 | 0% |
| Basic rate | £12,571 to £50,270 | 20% |
| Higher rate | £50,271 to £125,140 | 40% |
| Additional rate | over £125,140 | 45% |