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Results tagged with calculation
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user 26962
A generic tag to understand the calculations in a specific case. Please give out a sample illustration and ask a specific question. Ideally should also be accompanied by specific subject tags like "credit-cards", "savings-account", "index-funds" etc.
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UK Taxation: Should I be able to calculate my PAYE tax for the year exactly?
Consider a simple employed person in the UK, with nothing particularly unusual or exciting.
At the end of a given (financial) year they look at their payslips and they can see (amongst other things):
…
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Accepted
UK Taxation: Should I be able to calculate my PAYE tax for the year exactly?
See a self-answered SE question here for my gory investigation of it all, including both documentation of the logic/rationale and a final 1-line calculation for "how to identify the relevant actual figure …
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How, *exactly*, do I calculate my UK PAYE personal Tax Allowance ... since it's not quite th...
See here: UK Taxation: Should I be able to calculate my PAYE tax for the year exactly?
It turns out that, contrary to common-sense, if someone is a fairly average person in England and thus has the "n …
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4
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How, *exactly*, do I calculate my UK PAYE personal Tax Allowance ... since it's not quite th...
Derive a first-principles calculation
However ... since HMRC also publishes the Excel sheet which is used to generate the lookup tables, we can actually see where the values in the lookup table come from … (To account for monthly calculation?)
Round UP to the next penny. (Presumably because exactly numbers are essential for lookup-tables.)
Multiply by 12. …
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Is there a citation for an apparent change in UK Tax Return calculation process, going into ...
For the years prior to 2021/2, it looked like the HMRC calculation has rounded step 2 upwards to the whole pound. … (Just to complete my satisfaction that I can fully account for the whole of my Tax Return calculation) …
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