Budget Calculator
Personal Details
Number of children under 16
Do not include children who will be 16 on or after 6th April .
Average weekly hours worked
If your hours are not the same on a week by week basis then estimate the average hours worked per week over 12 months.
Partner's average weekly hours worked
If your partner’s hours are not the same on a week by week basis then estimate the average hours worked per week over 12 months.
Include partner's income
Tick this box if you wish your partner’s income to be included in your total income. If you are eligible for Tax Credits your spouse's income will automatically be included in the calculation of Tax credits.
If you have children under 16 then you will still need to enter your partner’s income to ensure that the Child Tax Credit and Working Tax Credit are calculated correctly.
Income
Partner
If you have children under 16 then you will need to enter your partner’s income to ensure that the Child Tax Credit and Working Tax Credit are calculated correctly.
Gross annual employment income
Enter your income from all employments including the cash value of benefits in kind excluding company cars and vans, before Pay As You Earn and other deductions such as pension contributions.
If you are paid weekly or monthly then you will need to calculate how much you earn in a year.
Self-employment income
Enter your annual income from any self employment after deducting allowable expenses. If a loss, please enter “0”.
Dividend income
Enter the total of net UK dividends received during the year.
Interest income
Enter the net amount of taxable UK interest received; this is the amount you receive after tax has been deducted at source. Therefore do not include the 20% tax withheld at source or income from tax free savings such as ISAs.
Net income from rental properties
Rent received from properties less any allowable costs e.g. maintenance etc. If a loss, enter “0”.
Non State Pension
Only enter your gross non-state pension i.e. before Pay As You Earn. If you or your partner is over pensionable age, the state pension will automatically be added to your income, calculated at the basic entitlement rate, and you do not need to enter this data. Please note that the tax-free fuel allowance is not included.
Lifestyle
Annual Flights
Enter the number of flights you take as a standard (economy) class passenger and as a premium (business or first) class passenger.
Note: if you stopover in a British airport then the connecting flight will count as an additional flight for taxation purposes.
Shorthaul (EEA) flights
A shorthaul flight is a flight from a UK airport to an airport in any of the EU member states, Switzerland, Norway, Iceland, Bulgaria, Croatia, Romania and Turkey. Additionally, with effect from 1 February 2007, Albania, Bosnia and Herzegovina, the Former Yugoslav Republic of Macedonia, Kosovo under the Interim Administration of the United Nations, Montenegro and Serbia.
Note:a return domestic flight within the UK counts as two domestic flights.
Longhaul (non EEA) flights
A longhaul flight is a flight from a UK airport to any airport outside of the EU member states, Switzerland, Norway, Iceland, Bulgaria, Croatia, Romania and Turkey. With effect from 1 February 2007, Albania, Bosnia and Herzegovina, the Former Yugoslav Republic of Macedonia, Kosovo under the Interim Administration of the United Nations, Montenegro and Serbia are classified as shorthaul flights.
Motoring
Road Tax
If you do not personally pay road tax for any cars then do not tick any of the Car checkboxes.
Band
N/A
Tick N/A if you pay tax on a car which was registered before March 2001.
Bands
If the car you pay tax on was registered after March 2001 then tick one of the bands. Example cars in each band:
Car band A Honda Insight petrol electric hybrid
Smart Diesel
Car band B Toyota Prius 1.5 litre petrol-electric hybrid
Ford Fiesta 1.4 diesel
Car band C Fiat Panda 1.2 petrol
Ford Focus 1.8 TDCi diesel hatchback
Car band D VW Passat estate 1.9 TDI diesel
Peugeot 307 1.4 petrol
Car band E Ford Mondeo saloon 1.8i petrol
Vauxhall Vectra 1.8 petrol saloon
Car band F Land Rover Freelander 2.0 diesel
BMW 5 series estate 3.0 diesel
Car band G Porsche 911 Carrera Coupe 3.6 litre petrol
Renault Espace 2 litre petrol
Fuel Type
Alt Fuels
Tick this box if your car uses an alternative fuel. The types of cars that use alternative fuel include hybrid electric, liquid petroleum gas, bio-fuel and hydrogen fuel cell cars.
Company Cars
Emissions (gCO2/km)
If you do not know your company car emissions then the calculator will assume you it is in the maximum rate of 35%.
Use of employer's van 
Private use of a company van
If you or your partner use your company van for private journeys then you will need to pay tax on this as a benefit in kind.
Fuel paid for by the company for private use?
If your employer lets you have free or subsidised fuel for private use then you will now need to pay tax on this as a benefit in kind.
Breakdown of difference
National Insurance
If you are self employed and also an employee, then the calculator assumes that you have reached the maximum National Insurance contributions at the rate of 11% and/or 8% and therefore only the additional 1% is calculated.
Please note that the calculator does not give credit for any tax already paid on your income, for example via Pay As You Earn, tax deducted at source on bank interest and tax credits on UK dividends.
Tax credits
These include the Child Tax Credit and Working Tax Credit.
In certain circumstances the amount of Child Tax Credits calculated is only an indication of the credits you will receive. This is if you have children and are also in receipt of pension credits, income support or income based jobseekers allowance, or if your child is in the first year of birth.
State Pensions
If you are over pensionable age the calculator will include a single state pension.
If you are a couple the calculator will include one state pension and one married woman’s pension or dependent pension addition.
The pension you actually receive will depend on your National Insurance contributions throughout your working life and the contributions of your partner if applicable.
The calculator is designed as an indication of your tax position when comparing two tax years. It should be noted that your position may change due to reasons not specific to the Budget, such as becoming entitled to a state pension or no longer being required to make National Insurance Contributions due to age.
Click here for KPMG’s Budget coverage.
 

Disclaimer

The Budget proposals and other tax changes are summarised in this application. The proposals may, however, be amended significantly before enactment. The content of this application is intended to provide a general guide to the subject matter and should not be regarded as a basis for ascertaining liability to tax or determining investment strategy in specific circumstances. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.

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