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Where Taxpayers and Advisers Meet

I have a made a uk tax calculator, i need some feedback

prependto
Posts:4
Joined:Fri Feb 19, 2016 3:27 pm
I have a made a uk tax calculator, i need some feedback

Postby prependto » Sun Oct 01, 2017 7:36 pm

Hi all

Im not sure if this type of post is allowed, please delete if not

But essentially i decided to build a UK tax calculator to allow me to easily work out what i should be paying :

http://www.simple-uk-tax.co.uk/

Iv included the following rules:

tax free amount (minus the 100k rule)
tax 11.5k, 35k, 150k rules
NI - 8164 and 45032 rules
student load - 17775 rules (only single band atm)
self employed NI (2 and 4) - 8164, 45000 rules

Have i missed anything here ?

Can anyone think of ideas i can include to improve this project ?

iv essentially just done this for fun but hopefully it could be useful to other people as well

Thanks a lot
Luke

someone
Posts:696
Joined:Mon Feb 13, 2017 10:09 am

Re: I have a made a uk tax calculator, i need some feedback

Postby someone » Sun Oct 01, 2017 8:19 pm

IMO if you're going to include the 150K tax bracket then you need to do the tapering of annual allowance. (FWIW, I do this via a 60% tax bracket which isn't the way TPTB want you to consider it but it gives the correct results)

Other things that I have in my spreadsheet:

calculation of the pension annual allowance, ability to include employer contributions and to increase the taxable pay when they exceed the annual allowance.

Pension carry back when you exceed the annual allowance. (IIRC you have to go all the way back to 2008 to be able to accurately calculate your exact eligibility for pension caculations, including the mini-tax year stuff last year.)

Pension contributions - which can recover the annual allowance (and in exceptional circumstances the pension annual allowance too)

Charitable donations - which can recover annual allowance or pension annual allowance.

(I don't do NI as it's not something I have to care about/have any control over)

darthblingbling
Posts:698
Joined:Wed Aug 02, 2017 9:09 pm

Re: I have a made a uk tax calculator, i need some feedback

Postby darthblingbling » Mon Oct 02, 2017 11:00 am

'That's except for taxpayers in Scotland who have their own basic rate band'

A phrase that once battered your childhood comes back to haunt you in adult years


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