What £24000 after tax in the UK really means in 2024

What is £24000 after tax UK?

For an annual income of £24,000.00 in the UK for the tax year 2023/2024, the breakdown is as follows:

Taxable Income: £11,430.00 (after deducting the personal allowance of £12,570.00 from the total income).
Income Tax: £2,286.00 (calculated on the taxable income).
National Insurance Contributions: £1,512.62 annually.
Net Income (After Tax and National Insurance): £20,201.38 annually, £1,683.45 monthly, and approximately £55.35 daily.

What would the impact of student loans be on £24000 after tax in the UK?

Plan 1: The payment threshold is £21,165.00. Therefore, under plan 1, there would be a deduction of £255.15.
Plan 2: The payment threshold is £27,295.00. Therefore, under plan 2, there would be a deduction of £0.00.
Plan 4: The payment threshold is £26,575.00. Therefore, under plan 4, there would be a deduction of £0.00.
Postgraduate Loan: The payment threshold is £21,000.00. Therefore, under a postgraduate loan scheme repayment, there would be a deduction of £270.00.



What kind of roles make £24000 in the UK?

1. Teaching Assistant:
Teaching assistants support teachers in the classroom by helping with lessons, preparing materials, assisting students with their work, and providing general classroom support.

2. Junior Graphic Designer:
Junior graphic designers create visual concepts, using computer software or by hand, to communicate ideas that inspire, inform, and captivate consumers. They develop overall layout and production design for various applications such as advertisements, brochures, magazines, and corporate reports.

3. Customer Service Representative:
Customer service representatives assist customers with inquiries, complaints, and processing orders. They may work in various industries, such as retail, banking, or telecommunications, and are responsible for resolving customer issues and providing product/service information.

4. Junior Marketing Associate:
Junior marketing associates support the marketing team in creating and implementing marketing campaigns, conducting market research, assisting with digital marketing efforts, and contributing to brand promotion activities.

5. Administrative Assistant:
Administrative assistants perform a wide range of support tasks including managing schedules, organizing meetings, handling correspondence, and maintaining office systems. They play a key role in ensuring the smooth running of an office environment.


Whether your salary is £24000 or £240000, it's always important to help to stretch your salary across the month by adopting a careful budgetting strategy.

Living on £24000 a year in the UK requires strategic budgeting. First, prioritize essential expenses like rent, utilities, and groceries. Consider shared accommodation to reduce housing costs. Use public transportation or a bike to cut commuting expenses. Look for free or low-cost leisure activities and utilize discount schemes. Create a monthly budget and stick to it, tracking all expenses to identify areas for savings. Avoid unnecessary debt and consider setting aside a small amount each month for unexpected expenses. Finally, regularly review and adjust your budget to ensure financial stability.


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. Advance your education and skills through professional development courses or obtaining additional qualifications in your field.
2. Apply for promotions within your current company and actively seek out opportunities for career progression.
3. Seek out freelance or part-time work to supplement your income and gain additional experience in your industry.
4. Utilize networking events and platforms to make connections within your industry and potentially find higher-paying opportunities.
5. Consider relocating to areas with higher average salaries or where there is a greater demand for your skillset.
6. Negotiate for a raise or incentive package with your current employer, backed by evidence of your value and contributions to the company.
7. Explore alternative job opportunities in sectors that offer higher earning potential, such as technology, finance, or healthcare.
8. Invest in learning new languages or acquiring technical skills that are in high demand in the job market.
9. Seek out mentorship or coaching to help you navigate career challenges and make strategic decisions that can lead to increased earnings.
10. Consider starting a side business or investing in income-generating opportunities outside of your primary job.


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.