Calculator T&C’s and Assumptions:
This calculator was built and designed to assist agencies with complying with regulation 13A of the Conduct of Employment and Employment Businesses Regulations 2003 (the ‘Conduct Regulations’) by providing workers with a Key Information Document (‘KID’). The information derived from this calculator is for illustrative purposes only and does not constitute financial/tax planning advice. Whilst Parasol will do our utmost to ensure the values used in the calculator are up to date we cannot guarantee that this will be completely accurate and match the payroll exactly once it’s run, therefore you use the calculator at your own risk. Please use the data for your information only and do not make any financial decision based on the results that you can see on our calculator. You should always speak to an accountant/tax professional for tailored advice on your specific circumstances. We are not liable for any damages, costs, penalties and the like arising out of or in connection with your use of the calculator or any decisions you may make based on this. By using this calculator you agree to this.
Please also note:
- This calculator uses HMRC’s tax rates and thresholds as per the tax year that is selected by the user.
- The calculator assumes the standard tax code (although if income exceeds the personal allowance loss threshold, the personal allow will be reduced).
- The calculator does not limit the inputs, so it’s the users responsibility to ensure the inputs are correct and that deductions do not exceed the invoice value.