UK Tax Brackets - Formulas

[Chris_010101]

Hello,

The UK has earnings brackets for income tax.

Income tax bands

Book2
	A	B	C
1	Income tax bracket	Taxable income from	Taxable income to
2	Basic rate (20%)	Personal allowance	£50,270.00
3	Higher rate (40%)	£50,270.01	£150,000.00
4	Additional rate (45%)	£150,000.01	£99,999,999,999.00
Lists (Hide)

The "personal allowance" is tax-free earnings only those earning under the "additional rate" are entitled to. Anyone in the "additional rate" tax band is not entitled to the personal allowance.

Salary tracker

Book2
	A	B	C	D	E	F	G
1	Earnings Annually	Annual Personal allowance	Pre-tax earnigns monthly	Monthly personal allowance	Basic Rate (20%)	Higher rate (40%)	Additional rate (45%)
2	£80,000.00	£12,570.00	£6,666.67	£1,047.50
Salary Tracker

Cell Formulas
Range	Formula
C2:D2	C2	=SUM(A2/12)

I am trying to create a spreadsheet with formulas in the above salary tracker to return how much of a proportion of column C (pre-tax earnings monthly) minus Column D (monthly personal allowance (if earning under additional rate)), falls in each of the bands in columns E to G.

Chris

 

[etaf]

FYI

Income Tax Additional Rate Threshold from 6 April 2023

www.gov.uk

The Income Tax additional rate threshold (ART) will be lowered from £150,000 to £125,140, the income level at which an individual will not have any Personal Allowance, because £1 of the Personal Allowance is withdrawn for every £2 of income above £100,000 from 6 April 2023.