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Anyone help with a rough income tax calculation?Or suggest a calculator?

4 replies

itsvcomplicated · 20/09/2010 11:39

Trying to work out dh income for this tax year and its a bit complicated.I can't work out which tax band he will be in as usually he is a higher rate payer.

Cant post too many details so I can't be IDed

but approx income of

50K capital gains
28K wages (PAYE)
35K redundancy
5K tax deductable

TIA

OP posts:
claricebeansmum · 20/09/2010 11:43

Is there not a calculator on the income tax website. You can fill in online and does it for you I think. I think first 30K of redundancy is tax free and is 28K net or gross?

itsvcomplicated · 20/09/2010 12:14

the 28K is Gross.

I can only find calculators for income rather than including the extra bits IYSWIM.

(getting paranoid about the name changing thing as I nearly posted twice under my usual one Blush)

OP posts:
Chil1234 · 20/09/2010 12:23

Can I recommend spending about £25 on a product called 'TaxCalc'? I'm sure there are others on the market but that's the one I use to submit my tax return with every year. Totally dummie-proof. Leads you through every single appropriate category and keeps a running total of tax owed or owing at the top of the screen.

nymphadora · 20/09/2010 12:26

We just pay the accountant to do it. I thought dh was wasting his money doing that but I did it once & got so muddled! Can you aska n accountant for advice?

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