UK PAYE Income Calculator Updated for 2012/2013
iCalculator UK PAYE Calculator is updated for the 2012- 2012 tax year. You can calculate your take home pay based of your annual income and include tax deductable elements such as pensions and student loans.
iCalculator also provides historical UK PAYE figures so you can review how much tax you have paid in previous tax years.
See the guide below for specific information on each element that is taken into account when calculating your take home pay.
Did you know that your donations to charity can effectively reduce the Tax paid to HMRC by using Gift Aid? Well, relatively speaking that is. When you make your 'Gift Aid' donation to a charity, you'll need to make a Gift Aid declaration (typically a simple form or if online a simple confirmation box).
Gift Aid increases the value of donations to charities and Community Amateur Sports Clubs (CASCs) by allowing them to reclaim basic rate tax on your gift. If you pay higher rate tax you can claim extra relief on your donations. If you claim age-related allowances or tax credits, Gift Aid donations can sometimes increase your entitlement.
If you pay higher rate tax, you can claim the difference between the higher rate of tax 40 and/or 50 per cent and the basic rate of tax 20 per cent on the gross value of your donation to the charity. You can claim back this amount on your self-assessment tax form.