What £146000 after tax in the UK really means in 2024

What is £146000 after tax UK?

For an annual income of £146,000.00 in the UK for the tax year 2023/2024, the breakdown is as follows:

Taxable Income: £133,430.00 (after deducting the personal allowance of £12,570.00 from the total income).
Income Tax: £7,540.00 (calculated on the taxable income).
National Insurance Contributions: £8,106.02 annually.
Net Income (After Tax and National Insurance): £92,061.98 annually, £7,671.83 monthly, and approximately £252.22 daily.

What would the impact of student loans be on £146000 after tax in the UK?

Plan 1: The payment threshold is £21,165.00. Therefore, under plan 1, there would be a deduction of £11,235.15.
Plan 2: The payment threshold is £27,295.00. Therefore, under plan 2, there would be a deduction of £10,683.45.
Plan 4: The payment threshold is £26,575.00. Therefore, under plan 4, there would be a deduction of £10,748.25.
Postgraduate Loan: The payment threshold is £21,000.00. Therefore, under a postgraduate loan scheme repayment, there would be a deduction of £11,250.00.



What kind of roles make £146000 in the UK?

1. General Practitioner (GP) - GPs in the UK earn an average salary of around £146,000. Their responsibilities include diagnosing and treating common medical conditions, referring patients to specialists, and providing ongoing medical care and advice to patients of all ages.

2. Consultant Psychiatrist - Consultant psychiatrists in the UK often earn a salary in the range of £146,000. Their responsibilities include assessing and diagnosing mental health conditions, developing treatment plans, and providing leadership and supervision to other mental health professionals.

3. IT Director - IT directors in the UK typically earn around £146,000. Their responsibilities include overseeing the organization's IT infrastructure, developing and implementing IT strategies, and managing a team of IT professionals to ensure the smooth operation of technology systems.

4. Corporate Lawyer - Experienced corporate lawyers in the UK can command a salary of £146,000. Their responsibilities include providing legal advice on corporate matters, drafting contracts and agreements, and representing clients in negotiations and legal proceedings.

5. Engineering Project Manager - Engineering project managers in the UK often earn a salary of £146,000. Their responsibilities include leading and coordinating engineering projects, managing budgets and timelines, and communicating with stakeholders to ensure project success.


Whether your salary is £146000 or £1460000, it's always important to help to stretch your salary across the month by adopting a careful budgetting strategy.

Based on your annual income of £146,000, here are some budgeting suggestions tailored to the UK:

1. Create a detailed budget: Begin by tracking your monthly income and expenses. Use budgeting tools or apps to help categorize your spending and identify areas where you can potentially cut costs.

2. Allocate for essential expenses: Prioritize necessary expenses such as mortgage/rent, utilities, groceries, insurance, and transportation.

3. Save for the future: Aim to save at least 20% of your income. Consider setting up a separate emergency fund to cover unexpected expenses.

4. Plan for taxes: Be mindful of tax liabilities, including income tax, National Insurance, and any additional taxes applicable to your income bracket.

5. Invest wisely: Seek professional advice to diversify your investments and make the most of your savings.

6. Set aside for discretionary spending: Allow for leisure activities, dining out, and other non-essential expenses within reason.

7. Consider long-term financial goals: Whether it's saving for a property, retirement, or education, incorporate long-term financial planning into your budget.

Remember, these are general guidelines, and personal financial circumstances may vary. Seeking advice from a financial planner or accountant can provide you with more targeted and personalized advice based on your specific situation.


The other side of building long-term wealth for you and your family - other than budgetting and saving more - is earning more (ofcourse, usually easier said than done). Here are a few steps which could help you to do this by increasing your salary by a further £5000 in 2024:

1. Pursue higher education or professional certifications relevant to your field to qualify for higher paying roles.

2. Develop specialized skills such as data analysis, project management, or digital marketing through online courses or workshops.

3. Network and seek mentorship from professionals in your industry to gain insights on career advancement opportunities.

4. Negotiate for a raise during performance evaluations, backed by a strong track record and evidence of added value to the company.

5. Take on additional responsibilities or projects at work to demonstrate your capability and worth to your employer.

6. Research the average salary for your role in your area and leverage this information during pay discussions.

7. Consider transitioning to a company or industry that commonly offers higher salaries for similar roles.

8. Enhance your soft skills such as communication, leadership, and negotiation to position yourself as a valuable asset to employers.

9. Explore opportunities for remote work or freelancing to access roles that offer higher pay than traditional employment.

10. Seek feedback from colleagues and supervisors to identify areas for improvement and professional growth.


Keen to find out more about your earnings after tax in the UK, or anywhere else in the world? Check out the free salary calculator over at salarybueno.com.