Tax and National Tax and National InsuranceInsurance
Income tax:Income tax:
Tax free Personal Allowance of £10,000Tax free Personal Allowance of £10,000
20% £0 to £31,865 ( after allowance)20% £0 to £31,865 ( after allowance)
40% £31,866 to £150,00040% £31,866 to £150,000
45% over £150,00045% over £150,000
(for 2014/15 tax year)(for 2014/15 tax year)
National Insurance:National Insurance:
0% for first £152 per week0% for first £152 per week 12% Between £152 and £805 per week12% Between £152 and £805 per week 2% on earnings over £805 per week2% on earnings over £805 per week
2014/152014/15
Student Loan RepaymentsStudent Loan Repayments
You only make repayments when your You only make repayments when your income is over £21,000 a year. If your income is over £21,000 a year. If your income drops below this amount income drops below this amount repayments stop.repayments stop.
Each month you pay back 9% of any Each month you pay back 9% of any income over £21,000income over £21,000
Graduate or Not?Graduate or Not?Graduate Jobs Probably Graduates –
most people are graduates but a degree is not essential
Non Graduate Jobs
Nurse Waste/ Recycling Officer Pilot
Dentist Museum/Gallery Curator Reflexologist
Forensic Scientist Police Officer Healthcare Assistant
Doctor Counsellor Underwriting Apprentice
Optometrist Private Accountant Social Media Apprentice
Barrister Journalist Retail Management Apprentice
Mechanical Engineer Jobs that include a degree as part of an apprenticeship - a degree but no student loan to pay.
Careers Advisor Technology Apprentice Electrical Engineering Apprentice
Social Worker
School Teacher
Radiographer
