At last a calculator for the self employed that will determine the Gross amount paid for any given Net amount. The calculations also take into account the Tax Code and Week Number.
The calculator will determine:
- Tax deductions
- NI deductions – Employees and in the case of class one Employers
- Net or Gross Pay
Separate calculators for Class 1 and Class 4 NI contributions are available.
Why a Net to Gross Calculator ?
As a Self Employed person or the owner of a small business it is often necessary to pay yourself somewhat erratically. You may have to take several small payments spread over the month to fall in with your cash flow. This is never more necessary than during the early days of a start up business. The money that you pay to your self is essentially Net pay and of course you are liable for Income Tax and NI contributions, but how do you work them out. Most calculators and tables are only suitable for working out the net when you have the Gross but the above situation is the exact opposite.
Net to Gross Tax Calculator
Whilst the calculators can be used for ordinary Gross to Net calculations a subtle change in technique allows you to perform the reverse i.e. Net to gross. Please ensure that you observe the upper limit restrictions on this version of the Calculator.
A full version with no upper limit and the ability to change the legislated values and hence perform calculations for other years will be available for all privileged members.
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