Tax Calculators

Tax Calculators. This image shows information relating to global tax formulas which are used as part of the tax calculators featured on iCalculator

These Tax Calculators are part of the suite of free online finance calculators designed and maintained by iCalculator. Please choose one of the tax calculators from the selection below. If you are looking for a bespoke tax calculator for a certain tax calculation that is not featured in our suite of tax calculators, please contact us and we will build the tax calculator and add it to our suite for you and our other communities free use online.

Please note that these are generic tax calculators, if you would like to calculate your tax return based on specific tax thresholds and personal allowances relevant to the country you live or work in, please choose a country specific tax calculator

The tax calculators are developed by iCalculator to support you with clear and easy to understand tax calculations and information to provide transparency with the tax you owe or will be liable to if completing a certain financial action as an individual or as a business. These calculators can be used by both individuals and corporate taxpayers. Using the calculators will allow you to:

  • Evaluate your tax liabilities on your annual income that you have generated as a salaried employee, an employer or when self-employed.
  • Forecast tax liabilities ahead of purchasing, investing, releasing an asset, pricing a product or finalizing business plans.
  • Check applicable tax liabilities for your generated business profits if you are running a company.
  • In addition to salaried and business income taxes, you will be able to compute your tax liabilities on multiple tax commitments including property, inheritance, Sales, capital gains and VAT.

Each calculator is complimented with relevant information about the particular tax type, you will find information on taxes that are levied in different countries, and the tax rules and regulations that are followed in different regions of the world. This is particularly using if you are relocating or considering setting up a business in another country and need to understand the associated payroll costs.

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Defining tax: Past and Present

The concept of tax has been with us for quite a long time, even though it wasn't originally referred to by the term 'tax' it was there in one form or another. The first sign of taxation is noted during the times of the old kingdom of Egypt. It can also be traced back to 6000 B.C. where records of tax can be found in the form of clay tablets.

Several great ancient civilizations, including Romans and Greeks used taxation methods to fund various functions of their societies. Though it was not as advanced as modern tax law, it evolved with the development of civilizations, becoming more structured and widespread.

Taxes in ancient Egypt, called tithe & corvee, were the earliest forms of taxes and were kind of synonyms for labor. Specifically corvee is said to be a type of forced labor that was levied on the populations of peasants that were too poor to pay any other kinds of taxes.

There are multiple tax records available on the tax collections in Europe in the 17th century, however the figures are vague. The tax is believed to have been in the form of percentage of final goods that were produced, suggesting an approach similar to modern day sales tax. During the 18th and 19th century, taxes in Europe were sky high due to the plethora of ongoing wars that demanding revenue to sustain military might.

Modern Day Tax Legislation and Tax Examples

In the modern world, taxation has become systematic. If we consider the UK, numerous kinds of taxes are levied on individuals and corporate taxpayers and multiple financial transaction points from concept, through production to the final sales of goods. You can find tax calculators that cover all of these tax commitments along with guides to help you with your taxes on this page, let's have a brief look at some of these taxes. Note that iCalculator also provides country specific tax calculators, we simply use the UK as an example on this page.

Value Added Tax (VAT)

If you are into producing goods or providing services that are subject to VAT you will be liable to this tax. The norms for VAT vary from one country to another. More than 160 countries now leverage VAT as part of their tax laws.

Value added tax is added to a product at every step wherever the value is being added. In the UK a standard rate of VAT is applied for most goods and services but rates are reduced for many products which are considered basic needs.

If you want to determine the cost of your VAT liability you may do it manually or if you are looking for simpler methods that can save your time and effort, you can use online tools like iCalculators VAT calculators that are useful tools to make your calculations easy. You may access a list of VAT calculators by specific country here or view the UK VAT calculator discussed in our example by clicking the following links:

Is it really Tax?

Through history, taxes were given different names like "duties", the aim being to give the impression that these taxes were not only liabilities, but also part of their duty to their country and that their contributions will work towards social welfare. Staying with the UK, an example of these taxes are excise duty and stamp duty.

You will be subject to stamp duty in the UK when you purchase property. Many other countries also have property related taxes though most approach this via capital gains. In the UK, when you purchase a property, as an individual or a business, you will be charged at a predefined progressive rate. You can find more information within the following links as well as related calculators:

Stamp duty rates were revised in 2014 by the British government. You can use the stamp duty calculators to compare historical stamp duty rates and the latest stamp duty prices you will be liable to. You can access the stamp duty calculator with the following link:

Payroll Tax

Generally, income from employment is taxed via withholding in the UK that is also referred to as Pay As You Earn (PAYE). This means that if you are a salaried employee, your tax liability will be withheld by your employer and you will receive your salary after deduction. Deductions are normally completed as part of payroll calculations.

If you are an employer in the UK, it is your responsibility to withhold the tax amount from the salary of your employees and remit it to the tax authorities directly. If you want to check your tax liabilities you can use any or each of the calculators below to see how your payroll taxes will look.

The Dividend and PAYE Calculator is one a very useful tool that can help you figure out the actual breakdown of your income, including your salary and dividend benefits. This will enable you to have a clearer picture of your liabilities so that you can plan and save on taxes. This calculator can be accessed by the following link:

Business Tax

Small Business Rate Relief is the relief that you get if you are a small business owner. This basically depends on the number of properties you own and the value of the property(s). The calculations can be different according to your situation. You can access the relevant information and the calculators by using the following link, that gives you three different options according to your situation:

Gloabl Tax Laws and Administration

Each country has its own ministries and departments that are dedicated to taxation. If you wish to check the tax regulations and calculate your tax liabilities accordingly, you may take help of these online calculators and tax guides that are categorized based on taxation in different countries: