![]() correctly allocate tax reliefs and allowances to minimise tax liabilities.The 2023 Tax Calculator is available now and allows you to: Our Tax Calculator App lets you input a client’s income figures so that they can see the resultant tax, NIC and net income figures. HMRC themselves rely in part on Tim to identify and tell them about scenarios where the HMRC software miscalculates the tax liability.Įach Taxpert App gives you complete flexibility of input and access to the detailed calculations behind the results.Īn overview of the functionality of each of our Apps, together with worked examples are shown below: With over 30 years of experience explaining and demonstrating tax changes, Tim is ideally positioned to produce accurate, relevant and reliable software. ![]() Alternatively, you can work backwards from a profit figure to work out how much dividend could be taken or work out which year would be the best for a bonus payment.įollowing on from the success of these first Apps, and based on the changing and complicated tax calculations for company cars and pensions, Tim went on to develop the:Īll of Tim’s Taxpert Apps have been written from scratch with the client needs of those advisers using them in mind. These Apps let you change the salary, dividend, interest and other income and reliefs so that you can instantly see the effect on overall net income. To help accountants and tax advisers show their clients how much tax and NIC would be due in any given situation, Tim Good developed three tax planning Apps: These decisions have been further complicated by the changes to tax and NIC rates and thresholds announced in March, September and November 2022. The dividend and interest taxation rules introduced in 2016-17 moved the goal posts quite dramatically when it comes to: remuneration planning the tax benefits of incorporation and calculating and comparing overall tax liabilities for individuals with a range of income sources.
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