Priors vs TapTax

TapTax tools 49

• estimate_self_employed_taxEstimate UK income tax and Class 4 National Insurance for a sole trader from turnover and allowable expenses, with the take-home figure, effective and marginal rates, payments on account and tailored tips, from HMRC's published rates for the tax year. Works from the figures given, without a TapTax account.
• check_tax_codeCheck whether a UK PAYE tax code (e.g. 1257L, BR, K475, 1257L W1/M1) looks right for a salary and circumstances, explain what it means, and estimate any over- or under-payment. Flat-rate codes (BR, D0, D1) are only judged when hasMultipleJobs is known; without it the verdict is needs_info. Returns a verdict tier; refund figures are estimates, not amounts owed.
• check_mtd_statusSay whether and when Making Tax Digital for Income Tax applies to someone, from their qualifying income: self-employment turnover plus property income, before expenses, as on their Self Assessment return. Employment and pension income do not count.
• get_mtd_deadlinesList the standard Making Tax Digital quarterly update periods and deadlines for a tax year, and which one is next. Updates are cumulative from 6 April.
• calculate_take_home_payCalculate take-home pay from a UK salary for a tax year: income tax by band (England, Wales and Northern Ireland, or Scotland), employee National Insurance, student loan repayment and pension contributions, with yearly, monthly and weekly take-home and the employer National Insurance and total cost to the employer.
• calculate_gross_salary_for_take_homeWork out the gross UK salary needed to take home a given amount a year after income tax, employee National Insurance, student loan and a pension percentage, for a tax year (net to gross).
• calculate_salary_sacrificeCompare pay before and after a salary sacrifice for a pension or an electric company car: income tax, National Insurance and student loan saved, employer National Insurance saved and passed back, benefit-in-kind tax for a car, the drop in take-home pay, and for a pension the cost per pound added and the saving against paying in from net pay.
• calculate_pro_rata_salaryWork out a part-time salary from the full-time salary and the hours or days worked compared with full time, with the take-home pay on the pro rata salary for a tax year.
• convert_hourly_rate_to_salaryConvert an hourly rate to the annual salary it adds up to for the hours a week and paid weeks a year given, with take-home pay on that salary for a tax year.
• convert_salary_to_hourly_rateConvert an annual salary to its gross hourly rate and the take-home pay per hour, for the hours a week and paid weeks a year given, in a tax year.
• calculate_student_loan_repaymentCalculate yearly, monthly and weekly UK student loan repayments on an income for a repayment plan (Plan 1, 2, 4 or the postgraduate loan) in a tax year.
• calculate_child_benefit_chargeCalculate the High Income Child Benefit Charge on an adjusted net income and the Child Benefit received in a tax year: the charge, the benefit kept, and the income the charge starts from.
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