All About Income Tax22nd September 2015
As the saying goes, nothing as certain as death and tax – income tax is inevitable for anyone employed with an income. This is the tax you pay on your income and this article introduces you to different tools to help you work out your tax.
For an individual, income tax could be, however not limited to:
- Money earned from employment
- Profits from self-employment
- Benefits from your job
- Retail income
- Pensions (not all of them)
- Dividends from shares
- Interest on savings
There are 3 tools to assist you to calculate you Income Tax by yourself, which will be helpful in decision-making for future savings and investment plans:
- HMRC Tax Checker: Pretty quick and easy to use, you are able to check if you are paying the right amount of tax. Visit this link to calculate your payable tax accurately.
- Tax Calculator: Prepare in advance and manage your finances by working out the total income tax and national insurance you are required to pay for this year. There is a quick calculation for those who have an employment income only and do not contribute to pension via employer. Visit this link to get the estimation.
- Bank/Building Society Pay Interest Without Tax: A relief for many, check to see if the bank or building society can pay you tax-free interest for the tax year 2015 – 2016. Visit this link to work it out.
Holborn Assets is committed to service excellence in professional financial advisory. We have built a wealth of experience over the years in operation and prepared to assist in all financial calculations. Get in touch with Holborn Assets consultants to discuss your financial future today!Share: