Umbrella company tax calculator
Tax and NI calculator 2016/2017
Tax and NI calculator 2015/2016
Tax and NI calculator 2014/2015
Tax and NI calculator 2013/2014
Tax and NI calculator
2012/2013
Tax and NI calculator
2011/2012
Tax and NI calculator
2010/2011
Personal Allowance 2014 - 2015
What is Personal Allowance? 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) |
|---|---|---|
| Under 65 | If you are earning up to £100,000 | £10,000 |
| If you are earning between £100,000 and £120,000 | Decreases from £10,000 by 50% of every pound you earn (above £100,000) until it reaches £0 | |
| If you are earning £120,000 or more | £0 |
|
| 65 - 74 | If you are earning up to £27,000 | £10,500 |
| If you are earning between £27000 and £28,000 | Decreases from £10,500 by 50% of every pound you earn (above £27,000) until it reaches £10,000 | |
| If you are earning from £28,000 to £100,000 | £10,000 | |
| If you are earning between £100,000 and £120,000 | Decreases from £10,000 by 50% of every pound you earn (above £100,000) until it reaches £0 | |
| If you are earning £120,000 or more | £0 | |
| 75 and over | If you are earning up to £27,000 | £10,660 |
| If you are earning between £27,000 and £28,320 | Decreases from £10,660 by 50% of every pound you earn (above £27,000) until it reaches £10,000 | |
| If you are earning from £28,320 to £100,000 | £10,000 | |
| If you are earning between £100,000 and £120,000 | Decreases from £10,000 by 50% of every pound you earn (above £100,000) until it reaches £0 | |
| If you are earning £120,000 or more | £0 | |
| Blind person receive an additional amount of £2230 on top of the personal allowance | ||
Tax Rates 2014 - 2015
These rates apply to different portions of your earning
| Your earning [per year after taking away your Personal Allowance amount from your earning] | Tax Rate 2014 - 2015 | That is |
|---|---|---|
| Under your Personal Allowance amount | No tax taken | £0 |
| £0 - £31,865 | 20% | basic rate |
| £31,866 - £150,000 | 40% | higher rate |
| over £150,000 | 45% | additional rate |
National Insurance Rates 2014 - 2015
National Insurance Contribution is payable by everyone, until they have reached the state retirement age. National Insurance pays for their state pension and other state benefits.
These rates apply to different portions of your earning
| Your Earning [Per year] | National Insurance Rate | That is |
|---|---|---|
| Earnings up to £7956 | 0% | No National Insurance contribution is payable |
| Earnings between £7956 and £41,860 | 12% | Salary minus £7956 = X, 12% of X |
| Earnings £41,860 or more | 2% | £41,860 minus £7956 = £33,904, 12% of £33,904 plus salary minus £41,860 = X, 2% of X |
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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 make any big decisions. Do consult a professional when making any big decisions.
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