iknowtax.com

Tax & NI Calculator 2012 - 2013

Income £
Paid:
Age:

Weekly hours: Weekly days:

swipe left

Enter your salary to calculate how much tax you pay

  Yearly Monthly Weekly Hourly
Salary  


Personal Allowance  


Tax Paid  


NI contribution  


Total deduction  


You Take Home  


Compare last year: Last year:  


swipe left the table or rotate phone to view in landscape

2012 - 2013 Income Tax and NI calculator

Personal Allowance 2012/2013

What is Personal Allowance? Personal Allowance is the portion of your earning where tax is not applied, making that portion of your earning tax free.

Age Condition Personal Allowance (per year)
Under 65 If you are earning up to £100,000 £8105
If you are earning between £100,000 and £116,210 Decreases from £8105 by 50% of every pound you earn (above £100,000) until it reaches £0
If you are earning £116,210 or more £0
65 - 74 If you are earning up to £25,400 £10,500
If you are earning between £25,400 and £30,190 Decreases from £10,500 by 50% of every pound you earn (above £25,400) until it reaches £8105
If you are earning from £30,190 to £100,000 £8105
If you are earning between  £100,000 and £116,210 Decreases from £8105 by 50% of every pound you earn (above £100,000) until it reaches £0
If you are earning £116,210 or more £0
75 and over If you are earning up to £25,400 £10,660
If you are earning between £25,400 and £30,510 Decreases from £10,660 by 50% of every pound you earn (above £25,400) until it reaches £8105
If you are earning from £30,510 to £100,000 £8105
If you are earning between  £100,000 and £116,210 Decreases from £8105 by 50% of every pound you earn (above £100,000) until it reaches £0
If you are earning £116,210 or more £0
Blind person receive an additional amount of £2100 on top of the personal allowance

Tax Rates 2012/2013

These rates apply to different portions of your earnings

Your earning [per year if you have Personal Allowance of £8,105] Tax Rate 2012 - 2013 That is
Up to £8105 No tax taken £0
£8106 - £42,475 20% Basic rate
£42,476 - £150,000 40% Higher rate
over £150,000 45% Additional rate

National Insurance rate 2012/2013

National Insurance Contribution is payable by everyone, until they have reached the state retirement age.

Below are Class 1 National Insurance rates which is applied to anyone who's employed.

These rates below apply to different portions of your earning.

Your Earning
[Per year]
National Insurance Rate That is
Earnings up to £7755 0% No National Insurance contribution is payable
Earnings between £7755 and £42,475 12% Salary minus £7755 = X, 12% of X
Earnings £42,475 or more 2% £42,475 minus £7755 = £34,720 12% of £34,720 plus salary minus £42,475 = X, 2% of X

Any feedbacks are welcome. Please email admin@iknowtax.com

Disclaimer: I am not a tax professional, so please do not use this information to make any big decisions. Do consult a professional when making any decisions.