£15 Per Hour Salary Breakdown
Annual Salary at £15 per hour
Working a standard 37.5 hour week at £15 per hour results in a gross annual salary of approximately £29,250.
Calculation: £15 × 37.5 hours × 52 weeks = £29,250.
Tax on £15 per hour
With an annual income of £29,250, you are earning £16,680 above the tax-free Personal Allowance (£12,570). You will pay 20% Income Tax on this amount, which equals roughly £3,336 per year.
Is £15/hr good?
£15 per hour is a competitive wage for many sectors, equating to nearly £30k a year. It places you comfortably within the Basic Rate tax band, allowing for a decent standard of living in most areas outside central London.