Have you ever thought, I wonder how much tax i would have to pay? Or what does this annual salary actually translate to for me on a monthly basis in terms of money i can actually spend?
If so then it might be that you have gone online and tried to find a UK tax calculator to work this out. Some of you will have then closed your browser and left it at that when you saw the somewhat complicated looking forms.
Most tax calculators will offer you the option to input your tax code which if you know it for sure will make the calculation a lot more accurate. However many people don’t know the tax code and will have to navigate a user interface that makes the calculation seem more complicated than it needs to be.
So which UK tax calculator should I use?
Recently the government websites have launched a tax calculator that is quite simple to use and guides you through the process.
The domain is: https://www.gov.uk/estimate-income-tax
The website is still in Beta however so far it has been quite reliable. It follows a very similar pattern of the government online services in that it asks you one question at a time starting with this page.
You input your salary choosing if its an annual amount or monthly etc. Then it asks you some questions about where you live and a few other simple questions that are related to the calculation without gathering unnecessary information.
Then once the calculation is complete it allows you to browse the tax calculation online or you can choose to print the results as it prepares a document.
However if you are still concerned about your tax code or need an accurate calculation made regarding your tax situation then its best to speak to an accountant. Give the folks at AK Accountants a call!
Hopefully this helps!