Salary exchange calculator

You can use our calculator to produce statements, detailing total savings, pension contributions and take-home pay for each of your employees.
  • You must have consent from your employee to use their information.
  • Required fields are marked with *.
  • We won’t use this information for any purpose other than to show the impact of salary exchange for your employee.
Salary Exchange Calculator

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Notes :

The figures are based on tax and National Insurance rates effective from 6th April 2024.

The figures shown are for illustration purposes only and do not constitute any form of advice. The employee should speak to their financial adviser in this respect. They may be charged for any advice given by their financial adviser. Any such charge or cost should be confirmed at outset.

The net annual contribution shown takes account of basic rate tax relief only where contributions are made net from net pay. Intermediate rate (Scottish taxpayers only), higher rate tax, advanced rate (Scottish taxpayers only) and additional rate tax are taken into account in the calculations however the amount of intermediate rate (Scottish taxpayers only), higher rate, advanced rate (Scottish taxpayers only) and additional rate tax relief actually available will depend on individual circumstances.

The figures assume the employee is between the ages of 21 and State Pension age.

Salary exchange may reduce the employee's entitlement to statutory benefits, means tested benefits, tax credits or other salary related finances, for example mortgages.

References to taxation are based on our understanding of the current law and practice and may be affected by changes in legislation or an individual's personal circumstances. Annual amounts of earnings thresholds and limits are used when calculating National Insurance Contributions.

The UK (exc Scotland and Wales) income tax rates and bands are assumed to apply.

If salary exchange is set up on a percentage of salary basis, note that the actual amounts payable may be slightly different to those shown due to rounding.

Royal London accepts no responsibility for any loss as a result of relying on the figures in the calculations shown.

Notes :

The figures are based on tax and National Insurance rates effective from 6th April 2024.

The figures shown are for illustration purposes only and do not constitute any form of advice. The employee should speak to their financial adviser in this respect. They may be charged for any advice given by their financial adviser. Any such charge or cost should be confirmed at outset.

The net annual contribution shown takes account of basic rate tax relief only where contributions are made net from net pay. Intermediate rate (Scottish taxpayers only), higher rate tax, advanced rate (Scottish taxpayers only) and additional rate tax are taken into account in the calculations however the amount of intermediate rate (Scottish taxpayers only), higher rate, advanced rate (Scottish taxpayers only) and additional rate tax relief actually available will depend on individual circumstances.

The figures assume the employee is between the ages of 21 and State Pension age.

Salary exchange may reduce the employee's entitlement to statutory benefits, means tested benefits, tax credits or other salary related finances, for example mortgages.

References to taxation are based on our understanding of the current law and practice and may be affected by changes in legislation or an individual's personal circumstances. Annual amounts of earnings thresholds and limits are used when calculating National Insurance Contributions.

The UK (exc Scotland and Wales) income tax rates and bands are assumed to apply.

If salary exchange is set up on a percentage of salary basis, note that the actual amounts payable may be slightly different to those shown due to rounding.

Royal London accepts no responsibility for any loss as a result of relying on the figures in the calculations shown.