Online Income Calculator
Calculate net income from gross income and deductions. Perfect for understanding take-home pay, business income, and financial planning.
Total income before deductions
Taxes, fees, and other deductions
What is an Income Calculator?
An income calculator helps you determine your net income by subtracting deductions from gross income. It's useful for both personal finance (calculating take-home pay) and business finance (calculating net business income).
Net income is the amount you actually receive after all deductions, taxes, and fees are subtracted from your gross income. Understanding your net income is essential for budgeting and financial planning.
How to Use the Income Calculator
- Enter gross income: Input your total income before any deductions (salary, business revenue, etc.).
- Enter deductions: Input all deductions including taxes, fees, insurance, pension contributions, and other deductions.
- Calculate: Click "Calculate Net Income" to see your net income and deduction percentage.
Understanding Income Calculations
Gross Income
Gross income is your total income before any deductions. This includes salary, wages, business revenue, investment income, and other sources of income.
Net Income
Net Income = Gross Income - Deductions. This is the amount you actually receive after all deductions are taken out. It's your take-home pay or disposable income.
Deductions
Deductions include income tax, National Insurance, pension contributions, insurance premiums, student loan repayments, and other mandatory or voluntary deductions.
Frequently Asked Questions
What deductions should I include?
Include all deductions: income tax, National Insurance, pension contributions, health insurance, student loan repayments, union dues, and any other deductions from your income.
Is this calculator accurate for tax calculations?
This calculator provides an estimate. For accurate tax calculations, use official HMRC calculators or consult with a tax professional, as tax rates vary based on income brackets and personal circumstances.
Can I use this for business income?
Yes, you can use this calculator for business income by entering gross business revenue and business expenses/deductions to calculate net business income.
What's the difference between gross and net income?
Gross income is your total income before deductions, while net income is what you actually receive after deductions. Net income is always lower than gross income.
Related Calculators
Cite This Calculator
Reference this calculator on your website or in your work using the citation below:
HTML Citation Code:
<p>Calculator: <a href="https://onlinecalculator.co.uk/business/income-calculator" target="_blank">Income Calculator</a> - OnlineCalculator.co.uk</p>APA Style Citation:
OnlineCalculator.co.uk. (2025). Income Calculator. Retrieved from https://onlinecalculator.co.uk/business/income-calculatorNote: This calculator is free to use and reference. No permission required for educational or commercial citation.