New Income Tax Checker

jonninety

sheramber said:

The change in NIC does not apply until 'from July'. 

The  calculation will not update until then.

Hopefully itll update before then so it shows 2022/3 take home pay for the whole year.............?

[Deleted User]

jonninety said:

sheramber said:

The change in NIC does not apply until 'from July'. 

The  calculation will not update until then.

Hopefully itll update before then so it shows 2022/3 take home pay for the whole year.............?

It may or may not - don’t forget that NIC operates on an individual pay period and is not applied retrospectively to previous pay periods as with PAYE tax.

NWDave

Morning everyone - just an observation that I found the calculator a little misleading and had to really stop and think what the figures it spat out meant, as the table didn't appear to follow in a mathematical sequence - for me anyway!!

For my circs - (Employed, Pension Contri, Tax code includes company car impact) the below were the relevant numbers in order;

Gross Wage

Pension Contribution
National Insurance
Tax Paid

Take Home Pay

The below were just useful to knows;

Pension HMRC - I assume this is what is paid from my NIc's to my HMRC Pension Pot for when I retire?

Student Loan

Tax Free Allowance - reflective of my Tax Code

Taxable Wage - This number for me looked wrong as I expected this to reflect my Gross Wage, minus any non taxable deductions like Salary Sacrifice schemes for Child Care Vouchers and Private Pension?

I use https://www.thesalarycalculator.co.uk/salary.php which works but use this one to sense check the data it spits out due to the NI's reforms due later this year.

Anyone else feel the same?

@Former_MSE@Former_MSE_Andrea it might be an idea to look at expanding the functionality of this fundamental calculator as along with what goes out its vital to know what is coming in and apart from the link I have posted there isnt anything else out there that produces this type of Data.

muzza_miester

Worth noting that the pension contribution is overestimated on this calculator. Pension contributions are on qualifying earnings and not the whole salary.

muzza_miester

NWDave said:

Morning everyone - just an observation that I found the calculator a little misleading and had to really stop and think what the figures it spat out meant, as the table didn't appear to follow in a mathematical sequence - for me anyway!!

For my circs - (Employed, Pension Contri, Tax code includes company car impact) the below were the relevant numbers in order;

Gross Wage

Pension Contribution
National Insurance
Tax Paid

Take Home Pay

The below were just useful to knows;

Pension HMRC - I assume this is what is paid from my NIc's to my HMRC Pension Pot for when I retire?

Student Loan

Tax Free Allowance - reflective of my Tax Code

Taxable Wage - This number for me looked wrong as I expected this to reflect my Gross Wage, minus any non taxable deductions like Salary Sacrifice schemes for Child Care Vouchers and Private Pension?

I use https://www.thesalarycalculator.co.uk/salary.php which works but use this one to sense check the data it spits out due to the NI's reforms due later this year.

Anyone else feel the same?

@Former_MSE@Former_MSE_Andrea it might be an idea to look at expanding the functionality of this fundamental calculator as along with what goes out its vital to know what is coming in and apart from the link I have posted there isnt anything else out there that produces this type of Data.

Take home pay is gross wage minus NI, pension and tax paid.

Pension HMRC is the tax relief on pension contributions.

Taxable wage is gross wage minus pension minus tax free allowance.

SiLardner

Chuffy said:

Doesn't work if you contribute into a superannuation scheme deducted pre-tax.
Worked my net pay out £55 short per month.

And it doesn't work if you also make further tax-free salary sacrifices, I'm for one paying for extra annual leave that I've bought. So this tool wasn't very useful to me at all. I've used the tool called 'TheSalaryCalculator co uk" with greater success

kevinleeesmith

Please click reply to discuss

Dan

It doesnt seem to workk if you enter 12570 - it says 90pa to pay for NI

lyndyloo7

Hi,
The NI in the calculator is not the new rate from 6th November. 

hlskitten1971

This tax/NI calculator doesn't work. I put my 22-23 yearly earnings in it as I had exactly done on my self assessment, & it calculated £100 less than my self assessment bill has come out on HMRC. 

Dazed_and_C0nfused

hlskitten1971 said:

This tax/NI calculator doesn't work. I put my 22-23 yearly earnings in it as I had exactly done on my self assessment, & it calculated £100 less than my self assessment bill has come out on HMRC. 

I suspect you are comparing apples and pears.

MSE probably won't factor in class 2 & 4 NI and is known to be wrong in respect of pension contributions.