Tanzania Finance

Jun 24 2017

Net Salary Calculator UK 2017: Income Tax Calculator, Take Home Pay Calculator, Wage Calculator #uk #payroll #tax #calculator


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Income tax calculator: Net salary calculator based on the latest income tax rates of HMRC, the UK Tax Authority. We simple take the gross salary and deduct the latest income tax rates and national insurance contributions.

Take home pay calculator: This is actually the same as above. What we mean with this is how much you are going to take home after tax deductions from your annual or monthly gross salary.

Net Wage Calculator: Wage is normally used to describe your monthly gross income. Your net wage is found by deducting all the necessary taxes from the gross salary.

The 2017/2018 UK Real Living Wage is currently £9.75 in London and £8.45 elsewhere.

The 2017/2018 UK minimum wage (National Living Wage) per hour is currently: £7.50 if over 25, £7.05 21-24 years old, £5.60 18-20 years old £4.05 for under 18 years old and £3.50 for apprentice.

The 10 per cent starting tax rate applies to savings income only. If, after deducting the personal allowance from the gross income liable to Income Tax, the net income is above this limit then the %10 will does not apply. Non-savings income includes income from employment, profits from self-employment, pensions, income from property and taxable benefits.The rates available for dividends are the 10 per cent ordinary rate, the 32.5 per cent dividend upper rate and the dividend additional rate of 42.5 per cent (the dividend additional rate is 37.5 per cent from 2013-14)These income tax calculators are based on the latest HMRC regulations .

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