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Model Income Tax and NICs |
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As well as providing the means to record what has happened within your business, Independence™ also includes some facilities to test various scenarios. More will be added in future releases, but this release includes two main illustrations: Income Tax and National Insurance on this page and Company Car Tax. Income Tax at various income and dividend levels
This shows the amount of Income Tax to be paid at various levels of income. The tax year can be varied and it can be tried out with different tax codes. The amount of salary is specified separately, so that different salary/dividend splits may be modelled. The details may be printed out so that different combinations can be compared. There is a discussion of splitting your income between salary and dividends in the Knowledge Base. This transaction has been converted into a custom control so that you can try it online. |
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