Uk Income Tax Calculator - Excel by sgt19112

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									      # Question                                             Notes   Number       Income £ Allowance £       Tax liability £
        Current council tax liability, excluding water &
     1.                                                        a
        sewerage charges.                                                                                              1,200
     2. Numbers of earners < 65 years old.                     b              1                       5435
        Total earned income by household residents <
     3.                                                        c                   25,000
        65 years old.
     4. Numbers of earners 65 - 74 years old.                  d              1                       9030
        Total earned income by household residents
     5.                                                        e                   30,000
        65 - 74 years old.
     6. Checks for nil entry in question 4.                                                              1
     7. Checks for income exceeding threshold.                                                TRUE
        Calculates reduction in allowance if income
     8.
        exceeds threshold.                                                                        -4100
        Cell adjusts for allowance being less than
     9.
        basic allowance.                                                                              505
    10. Total allowance adjustment 65 - 74.
                                                                                                  -3595
    11. Sub-total 65 - 74 allowance.
                                                                                                      5435
          Reduces allowance if earnings less than
    12.
          available allowance.                                                                           0
    13. Total 65 - 74 allowance.
                                                                                                      5435
    14. Numbers of earners over 75 years old.                  f              1                       9180
        Total earned income by household residents
    15.                                                        g                   5,000
        over 75 years old.

    16. Cell checks for nil entry in question 14.
                                                                                                         1
    17. Checks for income exceeding threshold.
                                                                                              FALSE
          Calculates reduction in allowance if income
    18.
          exceeds threshold.                                                                             0
          Cell adjusts for allowance being less than
    19.
          basic allowance.                                                                               0
          Total allowance adjustment for those over 75
    20.
          years old.                                                                                     0
          Sub-total allowance for those over 75 years
    21.
          old.                                                                                        9180
          Reduces allowance if earnings less than
    22.
          available allowance.                                                                    -4180
    23. Total allowance for those over 75 years old.
                                                                                                      5000
    24. Total allowances                                                                          15870

        Numbers of earners in receipt of married
    25. couples allowance (born before 1935 but aged           h              1                       6535
        under 75 years old).
        Numbers of earners in receipt of married
    26.                                                        I              0                          0
        couples allowance over 75 years old.
        Identifies greater allowance available to
    27.                                                                                               6535
        household.
    28. Checks for nil entry in questions 25 - 26.                                                       1
        Reduces available MCA for any residual
    29.                                                                                               -505
        deductions from personal allowances.
    30. As above for 2nd aged related allowance.                                                         0
          Ensures MCA is not less than £2,540
    31.                                                                                                  0
          minimum.
    32. Removes minimum MCA if no MCA earners.                                                           0

    33. Total MCA tax reducer.                                                                        603
    34. Numbers of registered blind earners.                   j              1                       1800
    35. Net local income tax liability.                                                                                  667




George McLachlan                                           08f49820-1405-4933-a2f0-1f58609c9630.xls                            7/19/2010
         36. Removes any negative LIT charge.                                                                       0
         37. Total local income tax liability.                                                                    667
         38. Increase / (decrease) in tax liability.                                                             -533
             Please insert total number of residents in
         39. household receiving pensions and estimated                    k                2   10000
             gross annual pensions received.

Key:
                               Cell to be populated by taxpayer
                               Formula cell
                               No entry required

Notes:
               Please exclude water & sewerage charges as this will continued to be
          a
               charged out with the local income tax proposals.

               Include all earners under 65 years. Personal allowance for such earners is
          b
               £5,435.

             Before any deductions (eg tax or NI). Please include all earned income for all
           c residents in household, excluding any savings or investment income but
             including pension income.

               Include all earners aged 65-74 years. Personal allowance for such earners is
          d
               £9,030 but this may be reduced depending on gross earnings.

            Before any deductions (eg tax or NI). Please include all earned income for all
          e residents in household aged 65 - 74, excluding any savings or investment
            income but including any pension income.

               Include all earners over 75 years old. Personal allowance for such earners is
           f
               £9,180 but this may be reduced depending on gross earnings.

            Before any deductions (eg tax or NI). Please include all earned income for all
          g residents in household aged over 75 years, excluding any savings or
            investment income but including pension income.
               Enter number of household members who are married and born before 1935
          h
               but aged under 75 years.
               Enter number of household members who are married and aged over 75
           I
               years.

           j Enter number of registered blind earners in household.

             Whilst this data will not impact the above calculation, it will help us to
           k understand the impact of any decision on local taxation specifically for
             pensioners.

               The Scottish Government consultation document indicates that pensions
               should be subject to a local income tax and you should therefore include any
               pension receipts in questions 3,5 and 15.



               Please refer to disclaimer on the Council's local income tax website: www.glasgow.gov.uk/localincometax.




  George McLachlan                                                   08f49820-1405-4933-a2f0-1f58609c9630.xls             7/19/2010

								
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