What £31000 after tax in the UK really means in 2024

What is £31000 after tax UK?

For an annual income of £31,000.00 in the UK for the tax year 2023/2024, the breakdown is as follows:

Taxable Income: £18,430.00 (after deducting the personal allowance of £12,570.00 from the total income).
Income Tax: £3,686.00 (calculated on the taxable income).
National Insurance Contributions: £2,440.12 annually.
Net Income (After Tax and National Insurance): £24,873.88 annually, £2,072.82 monthly, and approximately £68.15 daily.

What would the impact of student loans be on £31000 after tax in the UK?

Plan 1: The payment threshold is £21,165.00. Therefore, under plan 1, there would be a deduction of £885.15.
Plan 2: The payment threshold is £27,295.00. Therefore, under plan 2, there would be a deduction of £333.45.
Plan 4: The payment threshold is £26,575.00. Therefore, under plan 4, there would be a deduction of £398.25.
Postgraduate Loan: The payment threshold is £21,000.00. Therefore, under a postgraduate loan scheme repayment, there would be a deduction of £900.00.



What kind of roles make £31000 in the UK?

1. Primary School Teacher:
Primary school teachers in the UK are responsible for teaching students aged 5-11 across a range of subjects, including English, math, science, and other subjects. They create lesson plans, assess student progress, and help with their social and emotional development.

2. Police Officer:
Police officers in the UK maintain law and order. They patrol specific areas, respond to emergency calls, conduct investigations, and make arrests. They also work to build relationships with the community and provide support to victims of crime.

3. Registered Nurse:
Registered nurses in the UK provide care and support to patients in hospitals, clinics, or other healthcare settings. They administer medication, monitor patient conditions, coordinate care plans, and educate patients and their families about health management.

4. Software Developer:
Software developers in the UK design, develop, and maintain software applications. They work on projects ranging from mobile apps to complex computer systems and are responsible for writing code, testing applications, and resolving technical issues.

5. Marketing Coordinator:
Marketing coordinators in the UK assist with the development and implementation of marketing strategies. They conduct market research, coordinate promotional activities, manage social media channels, and track campaign performance.

6. Human Resources Officer:
Human resources officers in the UK are responsible for tasks such as recruitment, payroll processing, employee relations, training and development, and ensuring compliance with employment laws.

7. Accountant:
Accountants in the UK are responsible for managing financial records, preparing financial statements, conducting audits, and providing financial advice to clients or organizations.

8. Sales Manager:
Sales managers in the UK lead and motivate sales teams, set goals, develop sales strategies, and may be responsible for managing key customer accounts and relationships.


Whether your salary is £31000 or £310000, it's always important to help to stretch your salary across the month by adopting a careful budgetting strategy.

One of the first steps in budgeting is to track your expenses to understand where your money is going. This will help you identify areas where you can potentially cut back. Create a list of all your monthly expenses, including rent or mortgage, utilities, groceries, transportation, and any debts or loans. Compare this to your income of £31,000 per year to see where you stand.

Once you have a clear picture of your income and expenses, you can start prioritizing your spending. It's important to allocate a portion of your income to savings or an emergency fund. Aim to set aside at least 10% of your income for savings.

Additionally, consider setting specific budget limits for discretionary spending categories such as dining out, entertainment, and shopping. This can help prevent overspending in these areas and keep your overall budget balanced.

Take advantage of money-saving opportunities, such as using discount codes when shopping, cooking meals at home instead of dining out, and utilizing public transportation or carpooling to save on commuting costs.

Lastly, regularly review your budget to track your progress and make adjustments as needed. This will help you stay on top of your finances and ensure that you are making the most of your £31,000 income.


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. Obtain professional certifications or qualifications in a high-demand field or industry, such as project management, IT security, or data analysis, which can significantly increase earning potential.
2. Pursue advanced education or training through part-time or online courses, such as earning a master's degree or completing specialized training programs, to enhance skills and knowledge.
3. Develop and improve technical skills by attending workshops, seminars, or specialized training courses to stay current with industry trends and technologies, making oneself more attractive to employers.
4. Enhance communication and negotiation skills through specific training programs, such as public speaking courses or negotiation workshops, to effectively advocate for salary increases or bonuses.
5. Seek mentorship or coaching to gain valuable career advice, guidance, and support in making strategic decisions that can lead to salary advancement.
6. Participate in networking events, industry conferences, or professional associations to expand one's network, build connections, and uncover new job opportunities with higher earning potential.
7. Invest in leadership and management training to take on more responsible roles within organizations, which often come with higher compensation.
8. Acquire specialized technical skills, such as programming languages, database management, or cybersecurity, through targeted training programs, enabling one to qualify for higher-paying, in-demand positions.
9. Obtain industry-specific accreditations or licenses, such as professional engineering certifications or financial advisory licenses, to open up lucrative opportunities in regulated professions.
10. Opt for personal development training, such as time management or productivity workshops, to enhance efficiency and demonstrate one's value to employers, potentially leading to salary increases or bonuses.


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.