Frequently Asked Questions

General

Can I rely on this website for tax advice?
No.
A The calculations may not be correct, complete, up to date or applicable to your situation.
B The calculations are simplified and illustrative only and make numerous assumptions.
C You should consult a tax professional before making any decisions.
Are you a tax professional?
No, this website is not created by a tax professional. You should consult a tax professional before making any decisions.
Are you giving financial advice?
No, this website is not giving financial advice. You should consult a tax professional before making any decisions.
Are you giving legally binding advice?
No, this is not legally binding advice. You should consult a tax professional before making any decisions.
Are you avoiding any possible responsibility?
Yes. Did I mention that you should consult a tax professional before making any decisions?
Are you collecting data from this website?
No. We do use Plausible.io for privacy-friendly analytics. They use EU-based hosting, are GDPR, CCPA and PECR compliant and collect no personally identifiable information (PII). You can read more here.

Assumptions and Setting

What tax year are you using?
2023/24
What country are you basing your calculations on?
UK or more specifically England.
What employee national insurance rate are you using?
11.5% which is a blended rate of 12% and 10%. The rate changed from 12% to 10% in January 2024. The correct rate for your situation may be different.
Note: 2023/24 tax year uses blended employee NI rate of 11.5% is used since it changed in January 2024 from 12% to 10%. No other incomes or tax reliefs are considered.

Email questions or suggestions to tax-shrink@bolddata.biz.

1Disclaimer: These calculations are simplified and illustrative only. They are not tax advice. There are no guarantees that the calculations are correct, complete, up to date or applicable to your situation. Consult a tax professional for your specific situation before making any decisions.