About a £120,000 Salary in the UK
On a £120,000 gross salary, you'll take home £75,899 per year, which works out to £6,325 per month after income tax and National Insurance.
At this salary, your income spans basic, higher, and additional rate bands.
Because your salary exceeds £100,000, your personal allowance is reduced to £2,570. You lose £1 of allowance for every £2 earned over £100,000.
Your effective tax rate is 36.8%, meaning you keep 63.2p of every pound earned.
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