£40000 after tax UK – How much is take home pay?

If you make £40,000 per year in the UK, your take home pay after tax and NI contribution will be £31771.00, which equates to £2647.58 monthly or £122.20 daily.

UK Income Tax Calculation

UK income tax calculations based on tax year 2023-24:

What will be the income tax, if we make £40000 per year in the UK?

Based on your annual income of £40000, the income tax would be £5,486.00, which equates to £457.17 monthly or £105.50 weekly.

NI Contribution on £40k Salary

If you earn less than £12,570 a year, there is no tax or national insurance (NI) contributions for you. But if you earn between £12,570 and £50,270, a 10% fee is charged. At the same time, if your income exceeds £50,270, there is a 2% charge on the extra amount.

Annual EarningsRate
£1476.00 to £12570.000%
£12570.00 to £50270.0010%
Over £50270.002%

So, on earning £40k a year, your NI contributions will be £2743.00 annually, £228.58 (£2743.00 ÷ 12) monthly, £52.75 (£2743.00 ÷ 52) weekly and £10.55 (£2743.00 ÷ 260) daily. Read more about Tax and National Insurance contributions on UK.Gov.

Note: In this calculation, we have not included pension contributions, student loan repayments and others. Also, the take home pay calculation is based on 5 working days a week and 8 working hours per day.

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