TaxCalc alternative?

Linda-alb

missymugwump wrote: »

:eek: uh oh

Followed the link from here to taxcalc lite
Purchased at £4.99

Then noticed it says
TaxCalc 2007 Lite

So looked at my order page and it says
You have not yet ordered TaxCalc 2010. If you wish to do so, please
I looked at entire product range page but cheapest option is £24.99 ?

I'm confused as to why they are offering an out of date product or am I missing a huge point ?
Worried I may have just wasted £4.99
I need to file 2009-2010

Can anyone help please

This program does no more then what HMRC's website Tax calc. So dont spend any money buying same thing.

Linda-alb

For ppl who simply file a Self Assesment and its a not complicated one as well as have the basic knowledge they can simply register on HMRC website and take it from there. follow the steps its not rocket science. (I work for Accountancy Practice, we have an expensive software and the website does the job, all u need its sit down and try

MadamGeneva

Hi, I'm new to MSE forums and not sure how to start a new thread so thought I'd try my luck here!

Rather than use the HMRC tax calculators to check my tax and NICs each month I recently decided to try and work it out for myself in a spreadsheet! How sad!!

Following the HMRC guidance for NICs appears to work and matches the calculator results.

Using the HMRC guidance for tax - multiplying my tax code (647 (L) by 10 and then dividing by 12 to get an even spread of monthly tax free allowances across the year to give me the monthly "Pay Adjustment Values" - produces a monthly "tax due" value that is roughly similar to the calculator but not exact. Why I wondered? Some observed anomalies:

1 - multiplying 647 by 10 gives 6470 not 6475 which is my personal tax allowance!
2 - According to the HMRC pay adjustment tables the sum of the adjustments over 12 months amounts to 6479.04!
3 - If I use a value of 6478 rather than 6470 I get an exact match to the HMRC calculator for monthly tax due!

I know this is trivial and it actually works in my favour but out of interest can anybody explain please?

Kind Regards, MG

no-oneknowsme

MadamGeneva wrote: »

Hi, I'm new to MSE forums and not sure how to start a new thread )

MadamGeneva - at the top right hand side of the screen you should see a black coloured box with the word "Forum" in it.

Hit this button and it will take you to the main board. Scroll down to the section you want to post in (in this case it is the tax board) and click into the section .

Then , to post a thread of your own , look at the top left of the screen and you will see the words "new thread" , if you then click this you will be able to post. Starting a thread of your own will enable others to see the post and hopefully offer you some help.

Victor_Delta

MadamGeneva wrote: »

Hi, I'm new to MSE forums and not sure how to start a new thread so thought I'd try my luck here!

Rather than use the HMRC tax calculators to check my tax and NICs each month I recently decided to try and work it out for myself in a spreadsheet! How sad!!

Following the HMRC guidance for NICs appears to work and matches the calculator results.

Using the HMRC guidance for tax - multiplying my tax code (647 (L) by 10 and then dividing by 12 to get an even spread of monthly tax free allowances across the year to give me the monthly "Pay Adjustment Values" - produces a monthly "tax due" value that is roughly similar to the calculator but not exact. Why I wondered? Some observed anomalies:

1 - multiplying 647 by 10 gives 6470 not 6475 which is my personal tax allowance!
2 - According to the HMRC pay adjustment tables the sum of the adjustments over 12 months amounts to 6479.04!
3 - If I use a value of 6478 rather than 6470 I get an exact match to the HMRC calculator for monthly tax due!

I know this is trivial and it actually works in my favour but out of interest can anybody explain please?

Kind Regards, MG

I'm sure you'll follow no-oneknowsme's good advice. However, in the meantime, I wonder if your issue is simply the result of the rounding up and down to the nearest pound that HMRC always does on tax calculations - always in the individual's favour.

V

MadamGeneva

Victor_Delta wrote: »

I'm sure you'll follow no-oneknowsme's good advice. However, in the meantime, I wonder if your issue is simply the result of the rounding up and down to the nearest pound that HMRC always does on tax calculations - always in the individual's favour.

V

Many thanks Victor_Delta, the rounding would explain the calculators results in my case but not the payslip values the employer has arrived at which includes the pennies!

mike_hugh

Just found another quite useful tax calculating tool on the web - something called online tax calc .com - seems quite useful - if you're self employed that is

no-oneknowsme

Just found another quite useful tax calculating tool on the web - something called online tax calc .com - seems quite useful - if you're self employed that is

And you joined this site just to share this with us mike_Hugh?

Suppose a site with a massive user base such as this *would* be the best way to promote your Company wouldnt it?

Spam!

PyncEntaica

Menomenas new album was pretty awesome. Alternative might be the vaguest description of a genre ever, though. Perhaps we can pare it down to something incredibly specific? How about Post-Pretentious? Is that just Tentious?

rcgood

Hi, Background info.
Wife 65 retired
Me 64 retired.
We are letting our house via an agent as we were unable to sell. ( bought a smaller property)
As i receive a pension and my wife has a minimum state pension, the income from the letting is classed as other income?
We do have annual expenses connected to letting the property, so for my tax return can i subtract those expenses from the monies received from the letting, then only show the balance on my tax return? any help would be appreciated.
Thanks