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  • FIRST POST
    • Foraminiferum
    • By Foraminiferum 11th Nov 17, 7:15 PM
    • 7Posts
    • 0Thanks
    Foraminiferum
    Excel spreadsheet to do "What If" for next tax year?
    • #1
    • 11th Nov 17, 7:15 PM
    Excel spreadsheet to do "What If" for next tax year? 11th Nov 17 at 7:15 PM
    Has anyone come across an Excel spreadsheet which could duplicate the HMRC Self Assessment calculations for the current year and for a future year (having plugged in the appropriate tax rates)?

    I have gone some way towards creating one for myself, but would like to check its results. The MSE Income Tax Checker is absolutely no use for me.

    Briefly, the Excel spreadsheet would need to take care of
    • No job (retired)
    • Company pension (taxed) and state pension, putting me in 40% tax bracket
    • Small amounts of untaxed interest on UK investments
    • Charitable giving including Gift Aid
    Fairly straightforward - allegedly...
    However, on an annual basis I am surprised by how HMRC deals with charitable giving.
Page 1
    • Dazed and confused
    • By Dazed and confused 11th Nov 17, 7:41 PM
    • 1,850 Posts
    • 819 Thanks
    Dazed and confused
    • #2
    • 11th Nov 17, 7:41 PM
    • #2
    • 11th Nov 17, 7:41 PM
    It will be anything but simple, ignoring the additional rate you have four possible rate bands just for the untaxed interest although two won't, based on your op, apply to you.

    Gift aid is straightforward, the gross amount i.e. your payment plus the basic rate tax relief the charity claims, increases the amount you can pay 20% tax on.

    And I'm assuming you aren't a Scottish resident for tax purposes
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