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Tax & NI Calculator 2014 - 2015

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Enter your salary to calculate how much tax you pay

  Yearly Monthly Weekly Hourly
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Personal Allowance  


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NI contribution  


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2014 - 2015 Income Tax and NI calculator

Personal Allowance 2014/2015

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 £10,000
If you are earning between  £100,000 and £120,000 Decreases from £10,000 by 50% of every pound you earn (above £100,000) until it reaches £0
If you are earning £120,000 or more £0
65 - 74 If you are earning up to £27,000 £10,500
If you are earning between £27000  and £28,000 Decreases from £10,500 by 50% of every pound you earn (above £27,000) until it reaches £10,000
If you are earning from £28,000 to £100,000 £10,000
If you are earning between  £100,000 and £120,000 Decreases from £10,000 by 50% of every pound you earn (above £100,000) until it reaches £0
If you are earning £120,000 or more £0
75 and over If you are earning up to £27,000 £10,660
If you are earning between £27,000 and £28,320 Decreases from £10,660 by 50% of every pound you earn (above £27,000) until it reaches £10,000
If you are earning from £28,320 to £100,000 £10,000
If you are earning between  £100,000 and £120,000 Decreases from £10,000 by 50% of every pound you earn (above £100,000) until it reaches £0
If you are earning £120,000 or more £0
Blind person receive an additional amount of £2230 on top of the personal allowance

Tax Rates 2014/2015

These rates apply to different portions of your earnings

Your earning [per year if you have Personal Allowance of £10,000] Tax Rate 2014 - 2015 That is
Up to £10,000 No tax taken £0
£10,001 - £41,865 20% Basic rate
£41,866 - £150,000 40% Higher rate
over £150,000 45% Additional rate

National Insurance rate 2014/2015

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 £7956 0% No National Insurance contribution is payable
Earnings between £7956 and £41,865 12% Salary minus £7956 = X, 12% of X
Earnings £41,865 or more 2% £41,865 minus £7956 = £33,909 12% of £33,909 plus salary minus £41,865 = 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.