The examples below explore the tax efficiency of the different ways in which it may be possible to extract profits from your business. You have the options of: Operating as a Sole Trader (No limited liability, No shareholding ability). Incorporating as a Company (Limited Liability, Ability to hold shares). For illustration purposes, we will use a Gross Company Profit [...]
Thursday, February 25, 2010
We have added a Corporation Tax Calculator to our Tax Calculator website. You can calculate from 2007/08 to 2010/2011. Just enter your gross profits and the calculator will deduce whether you are in the small companies rate band or main rate. If you are above the small companies rate, the calculator will apply small companies marginal relief.
Thursday, February 25, 2010
We have added a Dividend Tax Calculator to our tax calculator site! Just enter the net dividend you are taking, and the calculator will give you the amount of tax to pay. This is updated for the 2010/2011 rates on dividends where there is an additional higher rate of 42.5% where the gross dividend is over £150,000.
Friday, February 19, 2010
Following on from our earlier post about HMRCs error with tax coding notices here, we have added a tax calculator to help you check whether your tax codes are correct if you are working 2 seperate employments. The calculator will take your first and second job details to produce the individual taxation breakdown for their individual [...]
Saturday, February 13, 2010
We’ve added a tax graph to our existing tax calculator website. You can now see how taxation on any sum has changed over the last 7 years when calculating tax. Give it a try at our tax calculator!
Saturday, February 13, 2010
We’ve added a new tax answers forum to our existing tax calculator website. It’s now quick and easy to post a tax related question or answer online. You don’t need to register and the site is really simple to use. Give it a try!
Wednesday, January 13, 2010
TaxPenny can help those affected by the "Tax Health Plan" announcement by HMRC. If you have had any secondary income that you have not declared fully within the last 20 years, get in touch and we can help you.
Thursday, December 10, 2009
We have now updated our 2010/2011 Tax Calculator to include the latest tax rates and allowances figures as published on the HMRC website. Our estimates were quite off as there were not any changes to the personal allowances, higher rate threshold, national insurance thresholds and earning limits. However, the main changes in the form of the allowance [...]
Wednesday, November 11, 2009
tax calculator powered by UK Tax Calculators 2010/2011 UK Tax Calculator - Click Here We have added a 2010/2011 Tax Calculator with the 50% rate and new tapering for Personal Allowances over £100,000. Using our figures, an individual earning £250,000 will take home £141,220 in the 2010/2011 Tax Year. This means an additional £12,590 could be taken as [...]
Thursday, October 29, 2009
Can you be sure as a pensioner that you have been correctly taxed? Not so, according to the National Audit Office.
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Thursday, March 4, 2010
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