My new online tax calculator

**mudskipper** · 3 November 2011, 08:20

Originally posted by fatcat51 View Post

Hi All

After months of sweat, caffeine and very little sunlight I've just taken the skids off my new tax calculator for contractors and put it live!

Check it out: Contractor Tax Calculator - The UK's Most Powerful Contractor Calculator

It's an all in one calculator - put in your rate, expenses, tax codes, share splits etc and it will churn out corp tax; income tax; NI; student loan repayments etc etc. Plus you can compare two different scenarios and download a PDF with all the calculations in. I've worked with the guys at Inni Accounts to verify all the calculations behind the scenes.

Let me know what you think!

FC

Had a play - looks like a nice, straighforward interface.

As a suggestion, it would be good to allow for multiple contracts, and n days per week - for me this is the problem with most calculators - I'm not earning the same rate 5 days per week, 46 weeks per year.

ALso, spent ages looking at 'expenses' wondering where mileage went - it was on the next screen. Perhaps a message to say -'mileage on next screen' (or do it first).

Well done - good luck with it!

**fatcat51** · 3 November 2011, 08:30

Thanks!

I'll add the note on the expenses screen shortly and pencil in the multiple contracts for the next set of changes.

**northernladuk** · 3 November 2011, 09:48

Hmm, blue and green logo with blue and green theme. Where have I seen that before

**BlasterBates** · 3 November 2011, 09:52

yes perhaps allow days as well as weeks, because sometimes you want to calculate that, but a minor point really. Excellent!

In principle, I like the wooden background; if your budget is big enough perhaps use a better quality wood.

**MCC7** · 3 November 2011, 10:27

Very good.

Works a treat.

**fatcat51** · 4 November 2011, 07:57

I've added a note on the expenses screen. Multiple contracts is a little tricky, work around is to just change the 'per' box to year and calculate your annual income manually. Will see what else can be done.

I've also uploaded an example of the PDF report it generates: http://www.contractor-tax-calculator...tax-report.pdf

Despite being told 'blue and green should never be seen' I've never really followed fashion so it's here to stay. It's clearly a good choice ;-)

**adubya** · 4 November 2011, 08:15

Very good! Like it.

**Mister Clark** · 4 November 2011, 10:28

Nice calc overall.

One thing that would be nice is if you could have an option for optimal drawings for an individual while keeping company and personal tax liabilities to a minimum.

For example, I'm a a young bloke with a small mortgage, one earner, one share holder. I never take money out if its going to incur a personal tax liability where as most calculators assume (not unreasonably) that I want to take all the money earned in a year out of the company.

It would be nice to see the tax liability of company/individual based on this and showing what money would be left in the company as a reserve.

**Ignis Fatuus** · 4 November 2011, 10:41

Originally posted by fatcat51 View Post

Hi All

After months of sweat, caffeine and very little sunlight I've just taken the skids off my new tax calculator for contractors and put it live!

Check it out: Contractor Tax Calculator - The UK's Most Powerful Contractor Calculator

It's an all in one calculator - put in your rate, expenses, tax codes, share splits etc and it will churn out corp tax; income tax; NI; student loan repayments etc etc. Plus you can compare two different scenarios and download a PDF with all the calculations in. I've worked with the guys at Inni Accounts to verify all the calculations behind the scenes.

Let me know what you think!

FC

Looks good. One quibble: turnover > 73k does not mean you need to be VAT registered. The turnover could be for supplies to other EU states, and so outside the scope of VAT.

My new online tax calculator