UK Income Tax Calculator Spreadsheet - save on taxes

This UK income tax calculator spreadsheet is available as a download and it is fully customisable to meet your needs. It will will also calculate National Insurance, Tax on Dividends, Interest, Side Hustle Income and Rental Property Income. Learn how to calculate income tax.
Calculate your 2023/4 taxes.
The UK income tax calculator will run in google sheets or excel. Use make a copy from the file menu to get started.
To get the file to download go here ianshadrack.co...
I use an income tax calculator spreadsheet to run further analysis on my numbers for example splitting down my gross income into what I spend, what I save in pensions and ISAs and the amount of money going to tax and National Insurance and that way I can visually see what my savings ratio is from a pie chart.
The spreadsheet allows for the easy modelling of various UK income tax scenarios. It can also help you to optimise your pension contributions.
The income tax calculator spreadsheet is also a useful input to my retirement calculator which tells you the age which you can retire and the amount of income after tax that you can expect in retirement it's a very detailed model with lots of useful information such as things like plotting
your wealth over time and being a spreadsheet it's completely flexible and it lasts forever if you're interested go to www.ianshadrack.com/retirement-calculator
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DISCLAIMER
Please check that calculations are correct before making decisions based on the spreadsheet.

[@IanShadrackInvesting]

Get the free tax calculator here ianshadrack.com/uk-income-tax-calculator-spreadsheet/

[@TomsPersonalFinance]

Thanks, Ian. Very helpful. Fred and Wilma are doing well for themselves.

[@ngaiwinghong]

Extremely useful, thank you so much!

[@OllySelf-tz3yv]

Fantastic thank you for your hard work!

[@OneAndOnlyMe]

What a great resource, thanks!

[@ykmak4957]

Thank you very much, hope I can use it for my further investment and report tax

[@JohninRosc]

Thank you - excellent video

[@David-ue4hh]

Just excellent.

[@slinkydonkey]

Very useful spreadsheet! would it be possible to add Payments on Account calculations?

[@IanShadrackInvesting]

You can add that in yourself

[@schillaci5590]

Ian, this is awesome. Thanks. Regarding the Other Tax inc. Company Car and Private Health field. Do I put in the total annual amounts those are costing me?

[@IanShadrackInvesting]

It should be the tax you are charged on the benefit. It is a plug to reconcile against your payslip

[@davidraw4244]

Great S/S - thanks. Quick question. Is the grossed up pension contribution(s) (£5,500 in S/S above) - that is the figure which is taken away from total earnings - to leave 'salary subject to tax'?

[@IanShadrackInvesting]

Yes that is correct

[@inno101]

Hi Ian, Would be great if we could amend the spreadheet to reflect the new NI rates and also enter values for any potential changes to the PAYE tax thresholds/rates. I've had a go but most of the values are hard-coded in the formulas.

[@IanShadrackInvesting]

The NI rates changed during the tax year. I will issue an update for the new tax year.

[@djs43]

Hi thanks for this Ian, please can you help me understand why if I enter no salary but property profit of e.g. 25,000 is a nil taxable income bill being calculated when the amount is over the personal allowance? Thanks.

[@TonyNewman-d9v]

Great resource Ian. I have a question. Can this calculator be used if drawing a pension from a previous employer while in full time employment and paying into company pension scheme before reaching pensionable age as no NI is paid on the pension salary drawn, only personnel tax. Is there a box to input a pension salary where no NI is paid and only tax at the appropriate rate?

[@IanShadrackInvesting]

Yes put it in the row called bonus

[@TonyNewman-d9v]

Tried what you suggested Ian, putting pension payment in the Bonus box but NI is charged against the pension payment which is incorrect. I need to add pension for personnel tax payment only and no NI payment. Maybe this calculator is not suitable?

[@IanShadrackInvesting]

@@TonyNewman-d9v use row 20 instead which will attract income tax but no NI

[@AdeyemiAlabi]

Thanks a lot for this, I do not yet understand how tom really compute Pension contribution vai salary sacrifice or SMART. How exactly does it work? Lets say a person have a gross pay of £50,000, they can auto enrol without SS or Smart 5% from them and 3% from employer. Based on the spread sheet such a person would have contributed £4,000 toward their pension £2,500 from them and £1,500 from employer and their take home pay will be £3,027 monthly. What happens if they want to contribute the same 5% from them and 3% from employer but this time via Salary Sacrifice, or SMART how much will they have in their pension pot in each scenario? and How much will their take home pay be monthly in each scenario? Can the spreadsheet handle both the ss and smart scenario? if yes how do i implement that on the spreadsheet so i can play around with the numbers. Thanks once again.

[@IanShadrackInvesting]

You would have to reconfigure the spreadsheet yourself to do everything you want in your request

[@Fadajasi]

Hi, please I have a question, I got my first job in the uk in July and I wasn’t taxed for the first 3 months, but got taxed this month of October, what does this imply? Was I supposed to be taxed yet?

[@IanShadrackInvesting]

It must have taken time for your tax details to be processed

[@romanradke8149]

Is there a version for Scottish Tax bands?

[@IanShadrackInvesting]

Not the new 6 tax bands which is excessive and counter productive

[@manuelmariagarciaborruelsa670]

Great

[@IanShadrackInvesting]

Thanks glad you like it