HMRC upgrade tax calculator app
HMRC have updated its tax calculator app that was originally launched last year and which allows individuals to work out how much tax they pay and how the Government spends it.
The app is quite basic, whereby weekly/monthly/annual gross pay is entered, from which the app provides a summary of PAYE deductions and net pay. With the added new features however users will be able to:
- See updated information on public spending
- View pop-up explanations giving detailed descriptions of each spending category
- Enter their own tax code
- Obtain more details on tax rates used – showing what income has been taxed at which rate, and the rate at which National Insurance has been charged.
Since the tax app was introduced last Spring 250,000 people have downloaded it. The app can be downloaded for free from Apple's iTunes or from the Google Play store.
David Gauke, Exchequer Secretary to the Treasury, said:
“Taxpayers have a right to know how their money is spent. The calculator is an excellent way to bring transparency into the tax system. With so many people downloading the app, we can see that there is a real appetite to know where taxpayers’ hard-earned money is spent.”
Due to its lack of sophistication it is unlikely that many people will be attracted by it although it could be useful in replacing the quick calculation on the back of a fag packet!
Leave a Reply