Our calculator will take your details and run them through our income tax, tax credits, state pension, company car tax, ved and duty calculators.

By comparing last years (2015) taxation rules to the rules announced for 2016 in the budget we will show if you maintain your current lifestyle, whether you will be better or worse off.

Remember, taxation is very complex and it is impossible to create a budget calculator that will satisfy everyone whilst staying easy to use - so please don't rely on this data for making important decisions.

Visit our sister site for a more in depth tax breakdown

  • about you

  • your income

  • your household

  • your vehicles

  • your lifestyle

about you

your marital status

your date of birth

your sex

If you would like to include your partner within the household calculation, you can change your marital status to married or living with partner.

marriage date (if applicable)

partner date of birth

partner sex

include partner within calculation?

You: £0.00Your Partner: £0.00

Add incomes for yourself and/or your partner by clicking the button on the right!

income type

amount

£

how often?

hours per week

who?

Add a child by selecting their age below

How old is this child?

a child aged less than one year old

less than one year old

Add a vehicle for

date registered

co2 output

is company car?

list price

fuel type

is fuel provided?

will you be better off financially in 2016 compared to 2015? calculate now

well, how do you feel about that? share your thoughts on twitter by clicking here #budget2016!

The 2015 UK Summer Budget was delivered on 8th July 2015. We added all the figures revealed for 2016, including tax rates and thresholds, tax credits, child benefit and pensions and have now fully updated the calculator with the remaining information. So, all duties and vehicle related taxation figures are now up to date!. The budget provided a lot of major changes, the most major aimed at Tax Credits, Income Tax and Dividends.

New update!Following the Tax Credits U-Turn from the 2015 Autumn Statement, we have updated the figures to reflect accordingly.

Our Budget Calculator was put together by using the complex tax calculation system used by our suite of UK Tax Calculators and UK Tax Calculators Wizard.

The Budget Calculator builds upon this by including lifestyle taxes and duties as well as taking into account benefits and tax credits. As the calculator is broader in its scope we have provided it for you as a separate calculator for the 2014 budget. For more precise and specific calculations for income tax, including pension schemes and salary sacrifices, including Childcare Voucher Salary Sacrifice, use our Tax Calculator website.

Our Budget Calculator includes:

  • Pay As You Earn - Income tax due on paid employment. Our calculator will take into account the full range of taxation this incorporates by correctly calculating your tax free allowances and accurately placing the amount of tax you need to pay within each tax band. We also calculate National Insurance Contributions - for paid employment these are Class 1 contributions and are generally based upon NIC Letter A.
  • Self Employment Profits - Income tax due on self employment. Including Class 2 and Class 4 National Insurance Contributions.
  • Property Rental Profits - Income tax due only.
  • Dividends - Income tax due on dividends are calculated in a different manner to regular remuneration, have different bands and are subject to dividend tax credits.
  • Capital Gains - Capital gains have their own individual annual exempt allowance.
  • Other Income - Other income sources taken into account include savings income and redundancy payments.
  • Tax Credits - The calculator will deduce the tax credits that are available to you or your partner (or in a joint claim) by taking your circumstances and income into account.
  • Child Benefits - Child benefit is calculated for you.
  • SPA - State pension age and amount are calculated.
  • Duties - Fuel, Tobacco and Alcohol Duty is checked against your usage.
  • Vehicle Excise Duty / Road Tax - VED is calculated against for you.
  • Company Car Tax / BIK - If you have a company car the company car tax is evaluated by checking the banding and BIK tax due.

Need help?

  • How to use

    It's really simple to get a quick overview of where you stand with our Budget Calculator. You can enter as little or much information as you like and get an instant figure to show if you will be better or worse off than in the previous tax year.

    Please be assured that no information is stored. From what you enter the data is only used for the calculation and then returned for you to view the result. As soon as you close the browser window (or close your app), any data entered will be discarded.

    We have split your personal circumstances under five categories, which are detailed below:

    1. About You - By providing your marital status and sex, certain benefits can be calculated. Your date of birth is used to calculate benefits as well as deduce tax free allowances. If you are not comfortable entering your date of birth, please enter a date of birth that at least reflects your age. If you would like to include your partner within the calculation, make sure you enter their details too and tick the box to include your partner within the calculation. If not, your partners details will be excluded from any calculation result.
    2. Your Income - You can enter your gross income from any income source and allocate your (and your partner's) incomes appropriately. We use this information to calculate the overall amount of taxation you are liable to (or your household liability) and compare it with the previous year. This information is also used to assess any means-tested benefits.
    3. Your household - Please add any dependents so we are able to calculate any benefits available to you.
    4. Your vehicles - You can add any vehicles within your household, allocate the owner and we will calculate applicable taxes such as VED and Company Car Taxes. For vehicles you will need to know the co2 output in order for an accurate tax/ved figure. For company cars, you will need to know the list price, see here. More information is available here.
    5. Your lifestyle - We can calculate the amount of duties paid on certain lifestyle taxes such as cigarettes, beer, wine and spirits. Fuel duties are also covered. All figures require you to provide how much you use per week.

  • Vehicle CO2 output for your vehicles

    The Government uses the co2 output of your vehicle in order to calculate the level of VED and Company Car Taxes applicable. If you do not know the co2 output of your vehicle, please click here to find your vehicle.

  • Vehicle list price output for your vehicles

    The Government uses the list price of your vehicle in order to calculate Company Car Tax. If you do not know the list price, please click here to find your vehicle.

© 2009 - 2024 Walleto.co.uk

Code and design by Ray Arman

Disclaimer

The 2012 - 2024 Budget proposals and other tax changes are summarised here and available at the UKTaxCalculators.co.uk blog.

The proposals could change before coming into force. The calculator and any associated information are intended to provide a loose overview and therefore include assumptions and estimates. It should not be used as a foundation for checking liability to tax or when deciding investment strategies.

Although we have tried very hard to provide accurate and current figures, there is no guarantee that this information is accurate as of the date it is received or that it will continue to be accurate. You should not act upon such information without first taking professional advice and going through your circumstances in detail.

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