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Income tax calculator

Income Tax Changes : 2018 Edition

The detail on changes is on the HMRC Website.

We thought we’d help out with a calculator that shows you the effect of tax on your numbers. As always, disclaimers apply. We do not guarantee that the calculation is accurate. You should always seek advice from a qualified practitioner.

Choose a tax year, enter enter numbers for Rental Income, Finance Costs, Other Allowable Expenses and Other Income. Then click Calculate.

Or we reproduce the examples from HMRC website:

Tax Year  
Rental Income  
Finance Costs  
Other Allowable Expenses  
Other Income  
Property Profits100% of Finance Costs allowed 
Total IncomeProperty Profits + Other Income 
Basic Rate Tax20% on 0 
Higher Rate Tax40% on 0 
Tax Sub-TotalSum of Previous Two Figures 
Figure for Tax Reduction0% of least of 0, 0, 0 
Tax Reduction20% of previous figure 
Final Income TaxTax Sub-Total less Reduction 

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