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If you have been working at the same job for any length of time, you probably wouldn’t have much need for an income tax calculator unless your circumstances have changed; such as a reduction in hours or perhaps you have recently been married.

Most often, consumers who are in the process of changing jobs have the greatest need for a UK income tax calculator to get a rough idea of what their take-home pay will be. This is because an income calculator will tell you what your yearly payments will be, after your National Insurance and income tax contributions have been deducted.

Income tax calculators are simply software programmes that are user friendly and if you know your gross wages and whether or not you are paying into the National Insurance scheme, you can quickly calculate how much you will be paying in taxes and what your take home pay will be.

HMRC Income Tax and National Insurance Calculator

When you sit down at your computer to use an online income tax calculator, of course you should know how much the job pays.

Some calculators ask for more information than others but a basic version will ask whether or not you are paying into the S2P (State Second Pension) or if you are paying on an occupational pension scheme.

Some calculators ask if you are married, blind or paying into the NI whilst others also ask your age and tax code. You may be asked the percentage of your wage you pay into a pension or how much you receive per month in childcare vouchers. Each tax calculator is a bit different, but the more information they ask for, the more precise your results will be.

Wages After Tax

As an example of the results a basic income tax calculator will provide, consider a person offered a salary of £35,000 and who is not paying S2P because he/she is paying into an occupational pension scheme. This is all the information this particular calculator asks for.

The results would look like this:

Total Annual Deductions                                                    £8,393

Annual Earnings (after NI and tax)                              £26,607

Monthly Income After Tax (after NI and tax)   £2,217

Weekly Income After Tax (after NI and tax)         £511

You can see that you are not given weekly or monthly tax deductions, but that is a simple matter of dividing the annual total by the number of weeks you will be paid per year. However, it’s worth realising that this specific calculator doesn’t take child tax credit, any employer benefits in kind or investment income into consideration when making the calculator. As well, this particular calculator is based on the current year’s taxable bands and income tax allowances.

Again, keep in mind that the more information an income tax calculator asks for, the more precise the results will be. However, if you are contemplating a new job, you can use this as a general guide as to how much you will be paying the taxman and how much you will be putting in your own pocket.

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