UK Tax Calculators.co.uk
UK Tax Calculators.co.uk
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On the Multiple Income Calculator can you put the total property income and then the mortgage payments for new BTL tax?
Dave - 16/03/2016 22:39:46We updated the Multiple Income Calculator yesterday (Budget Day) for the changes to Capital Gains, where residential property does not qualify for the reduced 10%/20% rates. The other changes affecting Landlords were Stamp Duty (from April 2016) and tax relief changes to claiming tax relief on mortgage interest. The latter means relief will be restricted to the basic rate of income tax, but is gradually introduced from 6 April 2017. From April 2016 the Government will also replace the Wear and Tear Allowance with a new relief that allows landlords to deduct the actual costs of replacing furnishings instead of the fixed amount. For both of these scenarios we suggest just subtracting costs as applicable and entering into the box NET profit before taxes.
Ray Arman
When try to put date of birth as oap it keeps going back to 1970 taking of N.I? so no use for pensioners
David - 10/03/2016 17:52:03You can now enter your date of birth and be guided to prevent an invalid date. Please try the calculator again. Alternatively, if you wish to not supply the date, you can tick the box to not include NIC deductions.
Ray Arman
Be really helpful to be able to save to e-mail as with standard tax calculator.
Lisa Pinch - 29/02/2016 14:37:44Hi Lisa, The Multiple Income Calculator can now email the full breakdown and tables to your email address.
Ray Arman
Hi, Great multi income tax calculator but I can find any definition of NET dividend and NET savings Income. NET of what?
Philip Burman - 20/01/2016 00:03:44Hi Philip, The Net Dividend is the amount of the dividend received as shown on the dividend voucher. This amount would be net of the dividend tax credit. Net savings income for pre-2016/17 tax years is the amount of savings interest received on your bank or building society statement. The banks/building society would deduct 20% at source so the interest is provided net of the deduction.
Ray Arman
Multi source tax wizard is brilliant.
Robert Ghest - 08/01/2016 01:29:22