UK Tax Calculators.co.uk
UK Tax Calculators.co.uk
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I like to calculators but I do not know why there is no NIC for employers for women over 60
R P Ellis - 10/11/2010 11:45:11You pay NIC's from age 16 until you reach State Pension age. This is 65 for men and 60 for women born on or before 5 April 1950 - but it'll gradually increase to 65 for women over the period from 2010 to 2020. These changes will be factored in to the calculator soon. I.E if you are female and were born after 6th April 1951, your state pension age would be 61. This would require entering your date of birth into the calculator in order to be accurate, so we are finalising the best way to implement this
Ray Arman
I took Early retirement to help look after my handicapped son. Does this calculator apply to people like me?
Mick Saunders - 09/11/2010 09:57:57Hi Mick, if you have taken Early Retirement the calculator can still calculate your income pre-retirement as normal. For post-retirement, if you received your occupational pension early and there are tax-free lump sum elements etc, these would not be covered by this calculator as it only calculates personal tax on PAYE, CIS and Self Employment income.
Ray Arman
to calculate tax payable on a redundancy lump sum where the first 30000is tax free, also receiving pension and tax free lump sum
Richard Hemsworth - 02/11/2010 20:30:59
add a mixed earned income pension income option, for us working retired
Dave Beck - 31/10/2010 18:54:37
A 65-year old on £99,999 pa takes home £5,839 pm, but one on £100,100 takes home £5,628 pm. WHY??
R Wakefield - 28/10/2010 13:23:03(1) From the 2010-11 tax year the Personal Allowance reduces where the income is above £100, 000 - by £1 for every £2 of income above the £100,000 limit. This reduction applies irrespective of age.
Ray Arman
(2) These allowances reduce where the income is above the income limit - by £1 for every £2 of income above the limit. For the 2008-09 and 2009-10 tax years they will never be less than the basic Personal Allowance or minimum amount of Married Couple's Allowance. However, from the 2010-11 tax year the Personal Allowance for people aged 65 to 74 and 75 and over can be reduced below the basic Personal Allowance where the income is above £100,000.
This is the information from HMRC. Please email us if we have misinterpreted this.