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chat_bubble_outlineWhats New 08 December 2015

by Site Admin on 2015-12-08 19:05:57

We have been very busy behind the scenes developing new content and applications for the new members area.

The Members area contains apps and tools where you can save data, produce reports and use specific tax, finance and business apps and tools to make your life that little bit easier. The members area is planned for full launch in March 2016 but, we already have the area working BUT not all tools are currently available. You can register and use the tools already available, others will appear in the members area as we complete testing.

All apps and tools and free to use, we simply ask that you share your experience of iCalculator on your favourite social media network and with friends. We depend on our community to helps us grow, so if you like what we do, tell people :)

In addition to the specific apps we develop in the members area, we also publish calculators and tools in the public area of our website as well. These do not require registration but, you cannot save calculations or use related information across apps and tools.

New Calculators and Tools:

  1. Scottish Tax Calculator: From the 6th April 2016, there will be a change to how PAYE is calculated and collected by individuals subject to Scottish income tax rates. This is currently designed to be inline with the wider UK PAYE rates but a portion (10%) will be directly passed to Scottish funds rather than into the general HMRC tax bucket).
  2. Time Sheet Calculator: This calculator enables you to enter details of an employee's time sheet. The start and finish times (Time In and Time Out) are entered, along with times when the employee is not paid, such as lunch, appointments etc.
  3. Buy-to-let Mortgage Investment Profit Calculator: This calculator compares two kinds of Buy-To-Let mortgage and shows profit figures when the property is rented out. The deposit required for a buy-to-let mortgage is usually higher than a standard mortgage, typically 25% although can be as high as 40%.Interest rates and fees are generally higher.
  4. Small Business Rate Relief Calculator: Small business Rate Relief is applicable if you only use one property, and the rateable value is less than £12,000. If you have more than one property, you can get Small business Rate Relief if the rateable value of each property is less than £2600. In this case the rateable values are added together and any rate relief is applied to the main property.
  5. Rental Property Calculator: Understand your Return on Investment (ROI) when taking a buy to let mortgage. This calculator calculates annual profit and yield based on property value, expenditure and income. This build on the buy-to-lrt investment calculator with specific expenditure and income financial metrics.

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