RELEVANT TO THE UK ONLY - The UK Tax Calculator 2006-2007 automatically estimates and compares your tax through trading as a company or through an unincorporated business. Compare the estimated total tax bill if you operate through an unincorporated business or through a limited company. Estimate the best method of extracting money from your company to minimize tax. For example if you traded through a company you could withdraw money through salary and/or dividends. Using the tax calculator you could enter differing amounts to see how your tax liability would be effected, thus resulting in you choosing the most tax efficient balance. Update the tax calculator with your year-to-date results so you can plan how much money you need to set aside to pay your tax liability at the end of the tax year. Simply enter your anticipated business profits and how much you intend to withdraw to yourself from the business as prompted by input boxes. No tax knowledge is required. The tax calculator will estimate your total tax bill (as at current 2006-2007 tax rates) from all sources of taxation. We believe that the Tax Calculator can potentially save small business owners a significant amount of money.
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