the table or rotate phone to view in landscape2012 - 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 |
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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.