New updated Tax & NI Calculator and Rates for 2012 - 2013
The latest 2012 - 2013 Tax rates are available now. Below you will find the
Tax and NI rates, and the new Personal Allowance for 2012 - 2013. The tax and
national insurance calculator below is updated with the latest rates for 2012 -
2013. These tax rates starts from the new tax year in April 2012.
Enter your salary and click show to calculate how much tax you pay
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Yearly |
Monthly |
Weekly |
Hourly |
| Salary |
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Personal Allowance |
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| Married Couples Allowance |
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-- |
-- |
-- |
| Tax paid |
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| NI contribution |
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| Total deduction |
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| You Take Home |
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2012 - 2013 income tax and
NI calculator
UK
Click on the link for 2011-2012 Salary calculator |
2010-2011 Salary calculator
The rates changes for 2012 - 2013 are
highlighted in yellow
Personal Allowance is the portion of your earning where tax is not applied,
making that portion of your earning tax free.
| Age |
Condition |
Personal Allowance (per year) |
| |
If you are earning up to £100,000 |
£8105 |
| Under 65 |
If you are earning between £100,000 and £112,950 |
Decreases from £8105 by 50% of every pound you earn
(above £100,000) until it reaches £0 |
| |
If you are earning £112,950 or more |
£0
|
This table is rounded up to the nearest pound
If you are blind you get an additional amount on top of your personal
allowance of £2100
These rates are used to apply to the different portions of your earning
| Your earning [per year
after
taking away your Personal Allowance amount from your earning] |
Tax rate 2012 - 2013 |
that is |
| Under your personal allowance amount |
No tax is taken |
£0 |
| £0 - £34,370 |
20% |
called basic rate |
| £34,371 - £150,000 |
40% |
called higher rate |
| over £150,000 |
50% |
called additional rate |
National Insurance Contribution is payable by everyone, until you have
reached the state retirement age. Currently the state retirement age is for
males is 65 years old and females is 60 years old.
The National insurance rate has changed from £139 per week to £146 per week
(that is £7228 per year to £7592 per year) from April 2012/2013. There is no
change to the upper earnings limit, £42,484 remains same for 2012/2013
| Your earning [per year] |
National Insurance rate
|
that is |
| Earnings up to £7592 |
0% |
No National Insurance contribution is payable |
| Earnings between
£7592 and £42,484 |
12% |
Salary minus £7592 = X, 12% of X |
| Earnings £42,484 or more |
2% |
£42484 minus £7592 = £34892, 12% of £34892
plus Salary minus £42484 = X, 2% of X |
These rates are used to apply to the different portions of your earning.
To learn how tax is calculated with examples visit
the home page: http://iknowtax.com
This website is Free and I do not charge anyone for
using it. What I do say is to 'Like' it on Facebook or to recommend this site to
someone else! :-)
Privacy: This tool/website does not collect any salary information you enter
to calculate your tax.
Disclaimer: I am not a tax professional, so please do not use this
information to to make any big decisions. Do consult a professional when making any
big decisions.
All your emails are welcome. I read every email sent to me. Email:
admin@iknowtax.com
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