Tax Return Adviser Ltd
Tools and Calculators
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Maximum National Insurance contributions calculator
If you earn income from more than employment or self-employment (including a share of partnership profit) in the same tax year, you are usually required to pay NI on each. This may result in you overpaying contributions, although it’s still possible to underpay, which could jeopardise your state pension rights.
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New employee tax code checker
Before you pay a new employee it’s necessary to decide the correct tax code to use. This involves a number of factors starting with whether or not they have a P45. In the worst case scenario using the wrong code could result in HMRC looking to you, the employer, to pay any shortfall in tax.
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Property rental tax planner
The planner is a tool for projecting and comparing the tax liabilities and estimated return on a let residential property owned personally or through a company. It takes account of adjustments needed in respect of tax relief for interest paid on loans used to purchase or improve a let property.
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VAT flat rate scheme tool
HMRC offers a simplified scheme for small businesses to work out and account for VAT. This can offer a financial and administrative advantage.
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VAT number checker
You are only entitled to reclaim VAT on purchases where the supplier is registered. When buying from a business for the first time it’s a sensible precaution to check that they have a genuine VAT registration.
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