The office of Prime Minister is the highest political role in the United Kingdom and has been held by around 56 different individuals over the years.
Recent PMs include the likes of Boris Johnson, Liz Truss, David Cameron, Gordon Brown and Sir Tony Blair.
However, despite being so high profile, most know very little about how much Prime Ministers earn and pay in tax.
How much does the Prime Minister get paid?
The Prime Minister is paid two separate salaries with one being for their role as an MP (£91,346 in 2024) and another for leading the government (£75,440).
Currently, the PM has a combined allowance of £166,786 but they do not need to claim all of this.
Does the Prime Minister pay tax and National Insurance?
According to the House of Commons website, MPs "pay the same rates of taxation and National Insurance as any other employed person."
This is also the case for the Prime Minister. Last year, it was revealed that Rishi Sunak paid taxes equating to around £508,308.
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The last time Labour was in power in the UK as general election announced
How much does the Prime Minister pay in tax and National Insurance?
While Prime Ministers tend to have other sources of income outside their roles, the money paid by those earning both the MP and PM salaries can be calculated on the PAYE Tax Calculator.
Those earning £166,786 per year, located outside of Scotland and who are below the state pension age would have an income tax of around £61,256.70 and a National Insurance bill of around £5,346.32.
Where does the UK Prime Minister live?
This would equate to an annual take-home pay of £100,182.98.
Find out more about the income tax and National Insurance you pay on the UK Government website.
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