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income tax calculator
cepheus
Posts: 20,053 Forumite
in Cutting tax
Could someone suggest a working link with a free income tax calculator which includes pension payments?
I have found a PAYE one, but not sure if this is suitable for someone who has been on a monthly salary.
http://listentotaxman.com/
I have found a PAYE one, but not sure if this is suitable for someone who has been on a monthly salary.
http://listentotaxman.com/
0
Comments
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There is a drop-down menu which allows you to set the frequency of payments - yearly, monthly, 4 weekly, etc.£705,000 raised by client groups in the past 18 mths :beer:0
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It's also palpably inaccurate. When I put my own figures in, it bears no resemblance at all to reality.0
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As with most tax and NI calculators they are quite accurate as long as you remember that they have limitations.
They will give you an annual figure for tax no problem, but the weekly or monthly figures will only be accurate when your earnings are broadly the same each week or month and you have had no tax code changes. If for example you have a bonus one month this may cause a wrong answer for that month as the calculator assumes that is your usual monthly pay, and for some of the following months it may be wrong as it then assumes you did not have the bonus.
NI on the other hand will be correct for the weekly or monthly figures but may be wrong for the annual figure, as NI is worked out separately for each week/month.0
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