First medical job? How much tax and national insurance?

Income tax

•If you have a Form P45 make sure you give it to your new employer.    Otherwise you’ll be asked to complete a Form P46. This is so that the correct amount of tax can be deducted from your salary.
•You’ll pay income tax on your income above the personal allowance which is £6,475 in the tax year 2010/11.
•You’ll then  pay tax at the rate of:-
  20%   0 - £37,400
  40%   £37,400 - 150,000
  50%   Over £150,000

•You can increase your tax free income by claiming allowances against such items as annual subscriptions to professional bodies, employment related equipment and books.
•Remember to tell the HMRC about any income you receive which is not taxed at source e.g. the fees for signing a cremation certificate.
•Tell your Bank or Building Society you are no longer entitled to have any interest paid tax free (if you have completed a Form R85 previously and your savings are not in a tax free savings account.)
•If you’ve been receiving child or working tax credits tell HMRC that you have started work.
•If you’ve been receiving welfare benefits tell the Department of Work and Pensions or the Social Security Agency (Northern Ireland) that you have started work.

National Insurance

•You’ll pay National Insurance contributions at a flat rate of 11% earnings    over £110 per week up to £844 per week in 2010/11.
•You will also pay 1% of earnings above £844 per week in 2010/11.
•You will pay a lower amount as an employee if you are a member of your employer's contracted out pension scheme. 
•The payments are different if you are self-employed.
 

Student Loan repayments If you have a student loan, as you’ll be earning above £15,000 per year, your employer will start deducting repayments at the rate of 9% above £15,000 from the 6 April of the year after you graduate.