UK Tax Caculator(2)

I

Iain Mackay

ACF Folks

Sorry for lack of detail in OP.

I'm looking for a simple piece of software to download that will to help me
*estimate* my tax liability for the coming year - I'd prefer a spreadsheet
if possible - some of the online calculators I've seen seem to smack of the
older 'serial' data entry (one mistake near the end and you need to start
all over again).

By estimate, it means I don't necessarily need to incorporate the latest
minor tweaks that our dodgy chancellor cobles together - just basic
allowance estimates and tax band rates..

I'm based in the UK and my income , like many small business folks,
comprises a mixture of salary and dividends, (but unfortunately no Kruger
Rand stashes in the Caiman islands).


Any help appreciated.

Iain McKay
 
M

Mark Carter

Iain said:
I'm based in the UK and my income , like many small business folks,
comprises a mixture of salary and dividends, (but unfortunately no Kruger
Rand stashes in the Caiman islands).
Click to expand...

To be honest, I think it extremely unlikely that a freeware solution exists.

Current tax bands are here:
http://www.adviceguide.org.uk/n6w/index/life/tax/income_tax_rates.htm
I don't know what your income is, but higher rates kick in at £32,400
.... that's after you've deducted your personal allowance for the year.
So, if it looks like you're teetering around that number, then the
calculation may be a bit messy.

Discussions about taxes take place on The Motley Fool:
http://boards.fool.co.uk/Messages.asp?bid=50068

For basic rate tax payers, there's usually nothing to do. Tax is
deducted from your PAYE, and dividends usually have some tax lopped off,
so there is usually no further tax to pay. If dividends push you to
higher bands, then it gets fiddly.

Sorry I can't be of any further help.
 
I

Iain Mackay

Mark
Many thanks. It seemed like the sort of thing that might have been done
before, but apparently not.
 
P

PL

Iain said:
ACF Folks

Sorry for lack of detail in OP.

I'm looking for a simple piece of software to download that will to help me
*estimate* my tax liability for the coming year - I'd prefer a spreadsheet
if possible - some of the online calculators I've seen seem to smack of the
older 'serial' data entry (one mistake near the end and you need to start
all over again).

By estimate, it means I don't necessarily need to incorporate the latest
minor tweaks that our dodgy chancellor cobles together - just basic
allowance estimates and tax band rates..

I'm based in the UK and my income , like many small business folks,
comprises a mixture of salary and dividends, (but unfortunately no Kruger
Rand stashes in the Caiman islands).


Any help appreciated.

Iain McKay
Click to expand...

Probably not what you really want, but have you looked at the online
self-assessment tax returns?

http://www.hmrc.gov.uk/sa/

Once you've signed up, you can complete your tax return online and get
an immediate tax liability calculated for you. You don't need to submit
the assessment to the tax office, but you can save the tax return to
your hard disk in pdf format.

Whether or not the tax office have access to your information, before
you formally submit it, is something for somebody else to comment on.

Self assessment tax forms were due in on January 31. On the Sunday
before, I spent just 15 minutes filling it out and had my tax liability
sorted there and then.
 
B

Bernard Peek

In message <[email protected]>, Iain Mackay
I'm based in the UK and my income , like many small business folks,
comprises a mixture of salary and dividends, (but unfortunately no Kruger
Rand stashes in the Caiman islands).
Click to expand...

I doubt that there's much demand for software like that, you can use
Inland Revenue's self-assessment site which will calculate your tax
liability before you submit your return.
 
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