UK Compensation Calculator

Calculate your total compensation package and explore tax efficiency options

Calculate Your Compensation

Your tax code determines your Personal Allowance. Default is 1257L for 2023/24.
Select your student loan repayment plan. Thresholds shown are annual.

Bonuses

Pension Details

Qualifying earnings are between £6,240 and £50,270 per year (2023/24)
5%
3%
This is the maximum salary the company will contribute pension on, not the HMRC limit

Tax Efficiency Recommendations

Pension Contributions

Increasing your pension contributions can reduce your income tax. The annual allowance is £60,000 or 100% of your earnings (whichever is lower).

ISA Allowance

Consider maximizing your ISA allowance of £20,000 per tax year for tax-free investment growth.

Capital Gains Tax

Make use of your annual Capital Gains Tax allowance of £3,000 for tax-free investment profits.

Example Investment:

Initial Value:£30,000 Growth (10%):£3,000 CGT Allowance:£3,000 Tax Saved:up to £600

CGT rates: 10% (basic) or 20% (higher) for stocks and shares. Consider realizing gains annually.

Premium Bonds

Consider Premium Bonds as a tax-free savings option with the chance to win tax-free prizes every month.

Premium Bonds offer a chance to win tax-free prizes every month. The current prize fund rate is 3.8%.

Prizes are heavily weighted towards higher balances due to the £25 minimum prize.

You can invest between £25 and £50,000 in Premium Bonds.

Premium Bonds Prize Calcuator