HMRC TAX CALCULATOR
May 29 2012.


A new tool on HM Revenue & Customs (HMRC) website allows workers to estimate the amount of Income Tax (not other taxes such as Capital Gains Tax) and National Insurance contributions they can expect to pay on their income. It also gives the option to find out how this money gets spent by the government. It is aimed at people who pay tax through Pay As You Earn (PAYE) and is free and easy to use.

Important points about the calculator
  • It doesn't provide a result that is legally binding, nor is it a demand for payment.
  • It is just an estimate.
  • The result is based on the figures entered. It is calculated for information purposes only and may not match pound for pound the Income Tax and National Insurance shown on any one payslip, if used for the calculation.
  • It doesn't ask for any personal identity information. A date of birth may be necessary.
  • It doesn't store any of the information entered - HMRC cannot access the data.
http://www.hmrc.gov.uk/news/index.htm