HMRC Tax Calculator

The tax calculator can be used to estimate the amount of income tax and national insurance contributions you can expect to pay on your income and find out how this money gets spent by the Government. It is aimed at people who pay tax through Pay as You Earn.

Important points about the calculator includes,

  • It doesn’t provide a result that is legally binding, nor is it a demand for payment. Remember, it is just an estimate.
  • The result is based on the figures you enter. It is calculated for information purposes only and may not match pound for pound the Income Tax and National Insurance shown on your payslip
  • It doesn’t ask you for any personal identity information
  • It doesn’t store any of the information you enter – HMRC cannot access the data.

Which calculator to use?

Depending on your situation, you can choose whether the calculation will be simple or more advanced.

For more information

http://www.hmrc.gov.uk/p800/paye-tax-calcs.htm

But how do you determine whether your tax affairs are simple or complex and which calculator suits you the most? The best thing to do is to get in touch with a tax expert. They will help you out in all your tax questions. If you run a Loudon based business, contact KVS Accountants on 020 7731 6131 for all your tax queries.

 

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