Tools and Calculators
Business incorporation calculator
Where you run a business as a sole trader it might save tax and NI if you transfer it to a company. However, doing so has immediate and long term tax consequences.
Company car capital contribution calculator
A company car is taxed according to its list price. This can be reduced if you make a capital contribution towards the purchase of the car. This calculator shows you how much tax could be saved.
Directors' NI calculator
A special method applies to the calculation of directors' and their companies' NI on salary, bonuses, etc. HMRC also allows an alternative method, but where this is used a calculation should be made at the end of each tax year using the special method to ensure that the correct amount of NI has been paid.
Income tax calculator
The introduction of special tax allowances, rates and rate bands which interact differently depending on your level and type of income has made the calculation of income tax liability far from straightforward. Our calculator can be used to work out your income tax liability for any of the years 2017/18 to 2019/20, and can be used where you receive any combination of earnings, savings income, dividends and most other types of income. It will also calculate any adjustment required from 6 April 2017 to finance costs relating to letting income.
Inheritance tax calculator
Inheritance tax (IHT) is payable on the value of your estate when you die where it exceeds the nil rate band. When planning to reduce your estate through gifts and other arrangements it’s helpful to know your and your spouse’s exposure to IHT.
The IR35 rules limit or remove the tax advantage that an individual can obtain by providing their services through a company. In effect the rules deem income received by the company to be salary and apply the PAYE rules accordingly.