Listen to taxmanAt the end of March a YouGov investigation (based on a survey of 2,070 people) found that 29% of UK adults have no understanding of how Individual Savings Accounts (ISAs) work. read more
A press release by the Office of Tax Simplification (OTS) has claimed reports of a tax on pensions are nonsense. read more
As Air Passenger Duty (APD) goes up, research by Oxford Economics has shown that removing the UK aviation tax could raise £4.2 billion for the economy. read more
Charities claim that Government plans to cap tax relief on charitable donations may deter major donors. read more
One of the Government?s three key areas of budget strategy is their plan to create a fairer, more efficient and simpler tax system. As part of this, from 2014 taxpayers are to receive a Personal Tax Statement. read more
Following public criticism, the Government has made plans to hold a consultation to review the cap on tax relief for donations this summer. read more
Last week The Telegraph speculated that the French Presidential elections could spell bad news for British expats who plan on bequeathing property in their will. read more
A Government-led increase in Stamp Duty Land Tax (SDLT) has raised concerns among advisors at the Institute for Fiscal Studies (IFS), who claim that the measures don?t have certain results and may encourage further tax avoidance. read more
This week George Osborne told The Telegraph that he was shocked by how the richest arranged their affairs in order to avoid paying income tax. read more
The 50% tax rate is getting a 5% haircut, following a government report which finds that the top rate has taken only £1.1 billion instead of the expected £2.6 for 2010. read more
The Chancellor has said that the 2012 Budget is designed to support economic growth, and a sustainable economy. read more
The UK Game Industry Trade Association [TIGA] has been celebrating following a government announcement to introduce a corporation tax relief scheme targeted at the video game industry from 2013. read more
The Government has announced plans to change age-related allowances. The first steps to abolishing these higher allowances come in the form of a rate freeze for the 2013 tax year. read more
A new poll has found that next year's rate freeze for age related allowances and the high rate tax payer cut as being most unfair. read more
The Government has called for tougher measures on those registering as self-employed in order to avoid paying more income tax. read more
New tax codes to be issued to employers to take into account tax free allowance changes from April 6th 2012. read more
A recent uSitch survey finds that only 36% of consumers believe that the 2012 budget has helped middle income families. read more
The tax rates, national insurance bands and allowances have been added to the calculator. The default tax year will continue to be 2011/2012
11th April 2011 The date for availing of the maximum tax benefits for childcare vouchers has passed. Thanks to those of you who pointed out the fact that these savings were not being reflected in the calculator for the 2011 tax year. I've now corrected this by adding an option to select the date you signed up to your childcare voucher scheme. Thanks, as always for the feedback.
The time is fast running out for those of you who want to make the most savings possible for Childcare Vouchers. If you are a higher rate tax payer and do not join a Childcare voucher scheme before April 6th 2011, then you will miss out on some considerable tax savings.
| Income Tax allowances | 2010-11 | 2011-12 | 2012-13 |
|---|---|---|---|
| Personal Allowance (1) | £6,475 | £7,475 | £8,105 |
| Income limit for Personal Allowance | £100,000 | £100,000 | £100,000 |
| Personal Allowance for people aged 65-74 (1)(2) | £9,490 | £9,940 | £10,500 |
| Personal Allowance for people aged 75 and over (1)(2) | £9,640 | £10,090 | £10,660 |
| Married Couple's Allowance (born before 6th April 1935 and aged 75 and over) (2) (3) | £6,965 | £7,295 | £7,705 |
| Income limit for age-related allowances | £22,900 | £24,000 | £25,400 |
| Minimum amount of Married Couple's Allowance | £2,670 | £2,800 | £2,960 |
| Blind Person's Allowance | £1,890 | £1,980 | £2,100 |
| Rate | 2010-11 | 2011-12 | 2012-13 |
|---|---|---|---|
| Starting rate for savings: 10%* | £0-£2,440 | £0-£2,560 | £0-£2,710 |
| Basic rate: 20% | £0-£37,400 | £0-£35,000 | £0-£34,370 |
| Higher rate: 40% | £37,401-£150,000 | £35,001-£150,000 | £34,371-£150,000 |
| Additional rate: 50% | Over £150,000 | Over £150,000 | Over £150,000 |
* The 10 per cent starting rate applies to savings income only. If your non-savings income is above this limit then the 10 per cent starting rate for savings will not apply.
The rates available for dividends are the 10 per cent ordinary rate, the 32.5 per cent dividend upper rate and the dividend additional rate of 42.5 per cent.
As always, this calculator is an organic tool, evolving based on your suggestions. If you feel you would like a feature added to the calculator, let me know support@listentotaxman.com
The UK PAYE tax calculator is active since 1998. We are happy to be considered as the number one calculator on the internet for calculating earnings, proving an invaluable tool alongside any small business accounting solution or corporate payroll software. This simple tool calculates tax paid and national insurance contributions. We constantly update the tax calculator with new features, and with the most current tax rates and bands figures from UK budget decisions.
If anyone has any comments / suggestions about the site you can drop me an email to support@listentotaxman.com.
April 6th 2010. We're up and going with the changes to the 2010 budget. As always, I'd appreciate it if the diligent amongst you alert me to any issues you may find. Drop a line to support Thanks, Paul.
March 23rd 2010: The tax calculator will be updated in the coming week to reflect the pending changes to the tax system for the new tax year. Thanks to all of you for your suggestions to improve the functionality of the calculator.
The top selling listentotaxman iPhone / iPod tax calculator has now been updated for the 2011 tax changes., but to all of you who want to use it now, the updates for the 2010/2011 tax year will be provided free of charge. Thanks for your continued support of the site by purchasing this application.
I've just updated the figures for the new tax year. And, after many, many requests, I've included the employers national insurance breakdown.
The climb down on tax free allowance rate announced some months ago comes into effect tomorrow. As a result of these rates coming into effect half way through the year, net monthly and weekly take home pay should be more than the calculator states. (to make up for the first few months of the tax year). Thanks again for all your comments via email. I do read them all.
I've added the first installment of changes to account for pension payments from gross wages. I know that there are changes with respect to National Insurance contributions to take into account also, but I'll get that sorted in a while. I hope everyone knows that if you are a higher rate taxpayer, i.e. you earn more than your tax free allowances plus £34,800, you need to either contact hmrc to get your tax code changed, or you need to complete a self assessment tax return in order to get the higher rate tax relief margin paid into your pension. You can contact me if you need any clarification on this. Paul.
To those of you who have missed out this time; Don't worry, we'll be providing a digest report of the best bits of the session. With the new tax year only a couple of weeks away, I hope this will prove useful.
The thing to remember about the new tax year starting, is that the current tax year is about to end.
03 March 2009. I'll be updating the calculator for the new tax year in the next couple of days. If you want to sign up as a tester or want to be notified when the site is updated, send an email to Beta Testing.
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