uk.co.taptax/taptax

Tools

• add_transaction

  Record a business income or expense in the signed-in person's TapTax, such as a receipt or a payment. The category is the HMRC self-employment box it belongs in. The same entry added twice within 10 minutes is recorded once.

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• calculate_capital_gains_tax

  Calculate UK Capital Gains Tax on selling an asset (residential property, shares, a business qualifying for Business Asset Disposal Relief, or other assets) for a tax year: the gain after costs, losses and the annual exempt amount, tax at each rate given other income, and the payment deadline.

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• calculate_child_benefit_charge

  Calculate the High Income Child Benefit Charge on an adjusted net income and the Child Benefit received in a tax year: the charge, the benefit kept, and the income the charge starts from.

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• calculate_cis_deduction

  Calculate the Construction Industry Scheme deduction on a payment (labour only, materials excluded) at the registered, unregistered or gross-payment rate, the amount received, and whether the year's deductions are likely to be more or less than the tax actually due.

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• calculate_contractor_day_rate

  Turn a contractor day rate into annual and monthly income, an hourly equivalent, and take-home pay as a sole trader, through a company outside IR35 and inside IR35, with the best route and the PAYE salary that would take home as much, for a tax year.

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• calculate_corporation_tax

  Calculate UK corporation tax on a company's taxable profit for a tax year, including marginal relief between the small profits and main rates, with profit after tax and the effective rate.

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• calculate_dividend_tax

  Calculate UK tax on dividends for a tax year, given the dividends and other income: the dividend allowance, tax at the basic, higher and additional dividend rates, and the effective rate.

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• calculate_gross_salary_for_take_home

  Work out the gross UK salary needed to take home a given amount a year after income tax, employee National Insurance, student loan and a pension percentage, for a tax year (net to gross).

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• calculate_invoice_due_date

  Calculate the date an invoice is due from its date and the payment terms (on receipt, a number of days, end of month, days after month end, a day of the following month, or the statutory 30-day default), with the weekday and whether the terms exceed the statutory limit.

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• calculate_late_payment_interest

  Calculate the statutory interest (Bank of England base rate plus 8%) and fixed compensation a business can claim on a late-paid commercial invoice under the Late Payment of Commercial Debts Act, from the amount, the due date and the payment date.

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• calculate_markup

  Calculate the selling price, profit and the equivalent profit margin from a cost and a markup percentage.

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• calculate_mileage_allowance

  Calculate the tax-free business mileage allowance for a year at HMRC's approved mileage rates for a car or van, motorcycle or bicycle, including the passenger rate, and the tax it saves at the basic or higher rate.

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• calculate_pension_tax_relief

  Compare a self-employed person's tax with their current and a higher personal pension contribution in a tax year: the basic-rate relief added to the pension, the reduction in the tax bill, and the net cost of the extra contribution.

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• calculate_pro_rata_salary

  Work out a part-time salary from the full-time salary and the hours or days worked compared with full time, with the take-home pay on the pro rata salary for a tax year.

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• calculate_profit_margin

  Calculate the profit margin and markup from a cost and a selling price, or the selling price needed for a target margin.

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• calculate_rental_income_tax

  Calculate UK income tax on rental profit for a landlord in a tax year, given rent, allowable expenses, mortgage interest (relieved as a 20% tax credit) and other income.

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• calculate_salary_sacrifice

  Compare pay before and after a salary sacrifice for a pension or an electric company car: income tax, National Insurance and student loan saved, employer National Insurance saved and passed back, benefit-in-kind tax for a car, the drop in take-home pay, and for a pension the cost per pound added and the saving against paying in from net pay.

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• calculate_savings_interest_tax

  Calculate UK tax on savings interest for a tax year, given the interest, any tax already deducted and other income: the starting rate for savings, the Personal Savings Allowance and the tax due.

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• calculate_stamp_duty

  Calculate the tax on buying property: Stamp Duty Land Tax in England and Northern Ireland, Land and Buildings Transaction Tax in Scotland or Land Transaction Tax in Wales, by band, with first-time buyer relief, the additional property surcharge and the non-resident surcharge where they apply.

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• calculate_student_loan_repayment

  Calculate yearly, monthly and weekly UK student loan repayments on an income for a repayment plan (Plan 1, 2, 4 or the postgraduate loan) in a tax year.

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• calculate_take_home_pay

  Calculate take-home pay from a UK salary for a tax year: income tax by band (England, Wales and Northern Ireland, or Scotland), employee National Insurance, student loan repayment and pension contributions, with yearly, monthly and weekly take-home and the employer National Insurance and total cost to the employer.

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• calculate_tax_on_multiple_incomes

  Calculate the combined UK tax on income from several sources in one tax year (employment, self-employment, rental profit, dividends and savings interest), allowing for PAYE tax already deducted: income tax, National Insurance, student loan, what is left to pay and take-home.

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• calculate_vat

  Add VAT to a net price or take it out of a gross price at the standard (20%), reduced (5%) or any other rate, with the net, VAT and gross amounts.

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• check_mtd_status

  Say whether and when Making Tax Digital for Income Tax applies to someone, from their qualifying income: self-employment turnover plus property income, before expenses, as on their Self Assessment return. Employment and pension income do not count.

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• check_tax_code

  Check whether a UK PAYE tax code (e.g. 1257L, BR, K475, 1257L W1/M1) looks right for a salary and circumstances, explain what it means, and estimate any over- or under-payment. Flat-rate codes (BR, D0, D1) are only judged when hasMultipleJobs is known; without it the verdict is needs_info. Returns a verdict tier; refund figures are estimates, not amounts owed.

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• check_vat_registration

  Check whether a turnover is over the UK VAT registration threshold for a tax year, and compare VAT payable under the standard scheme with the Flat Rate Scheme for the business's sector rate, including the first-year discount, with the cheaper scheme and the difference.

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• check_vat_reverse_charge

  Work out whether the domestic VAT reverse charge for construction services applies to an invoice, by HMRC's decision steps. Takes the yes or no answers known so far and returns the next question to answer, or the outcome with what the invoice must say.

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• compare_inside_and_outside_ir35

  Compare a contractor's take-home pay working inside IR35 (deemed employment payment, employer National Insurance) with working outside IR35 through a limited company, from the day rate and working days, for a tax year. It compares pay; it does not decide IR35 status.

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• compare_limited_company_and_sole_trader

  Compare take-home pay as a sole trader with running the same profit through a limited company (salary plus dividends, corporation tax and accountancy cost) for a tax year, with the annual difference and an approximate break-even profit.

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• compare_salary_and_dividends

  For a limited company director, work out take-home pay from a chosen salary plus dividends paid from the remaining profit after employer National Insurance and corporation tax, with every tax and the effective rate, for a tax year.

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• convert_hourly_rate_to_salary

  Convert an hourly rate to the annual salary it adds up to for the hours a week and paid weeks a year given, with take-home pay on that salary for a tax year.

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• convert_salary_to_hourly_rate

  Convert an annual salary to its gross hourly rate and the take-home pay per hour, for the hours a week and paid weeks a year given, in a tax year.

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• create_invoice

  Create and save a draft invoice in the signed-in person's TapTax account from a client name and one or more line items. No saved client, earlier invoice or client email is needed to create it; an email is only needed later, to send it. It is numbered in their sequence, uses their saved business details, and is not sent. Free plans include 3 invoices; paid plans are unlimited.

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• estimate_self_assessment_penalties

  Estimate Self Assessment late filing penalties, late payment penalties and late payment interest on the tax due, from how many days late the return was filed and the tax was paid.

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• estimate_self_employed_tax

  Estimate UK income tax and Class 4 National Insurance for a sole trader from turnover and allowable expenses, with the take-home figure, effective and marginal rates, payments on account and tailored tips, from HMRC's published rates for the tax year. Works from the figures given, without a TapTax account.

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• generate_invoice_numbers

  Generate invoice numbers: the next number after a given one (keeping its prefix and zero padding), or a run of numbers in a chosen format (prefix, separator, optional year or month, number of digits) from a starting number.

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• get_mileage_summary

  Read the signed-in person's own mileage log in their TapTax account for a tax year: total miles, the deductible amount at the approved rates, and the most recent trips.

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• get_mtd_deadlines

  List the standard Making Tax Digital quarterly update periods and deadlines for a tax year, and which one is next. Updates are cumulative from 6 April.

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• get_tax_position

  Read the signed-in person's own TapTax account: their tax year so far, as their dashboard shows it: business income, expenses and profit counted by the filing rule, the estimated income tax and Class 4 NI, how many transactions still need a business-or-personal decision, which quarterly updates they have filed through TapTax, and the next deadline. Needs no figures from the person: everything comes from their records.

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• list_invoices

  Read the signed-in person's own invoices from their TapTax account, newest first, with each one's live status (a sent invoice past its due date reads as overdue) and the totals outstanding and overdue. Needs no details from the person.

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• list_transactions

  Read and search the signed-in person's own income and expense records in their TapTax account, newest first. Filter by tax year or dates, type, text in the description, or needsReview=true for the ones still waiting for a business-or-personal decision (the review queue). Needs no details from the person beyond what to look for.

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• log_mileage_trip

  Record a business journey in the signed-in person's mileage log. TapTax prices it at the approved mileage rate for the tax year (tiered after 10,000 car miles). Commuting to a permanent workplace is not business mileage. Mileage tracking is on the Pro plan.

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• mark_invoice_paid

  Record that the client has paid an invoice (dated today). Stops any payment reminders.

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• plan_quarterly_tax_set_aside

  Plan how much to set aside for tax as a sole trader under Making Tax Digital, from the year's profit or each quarter's profit: the income tax, Class 4 National Insurance and student loan due, monthly and weekly amounts to put away, running totals by quarter with each update deadline, and any first payment on account.

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• prepare_business_document

  Prepare an invoice, quote, receipt, credit note or pro forma invoice in TapTax's free document generator, without a TapTax account. Returns the totals and a link that opens the generator with the document filled in, where the person checks it, adds a logo if they like, and downloads the PDF. The details travel in the link itself and are not stored by TapTax.

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• prepare_quarterly_update

  Get the signed-in person's Making Tax Digital quarterly update ready: the cumulative income, expenses and profit from 6 April to the end of the quarter, what still needs reviewing, and a card with a button that opens TapTax to check and file it. Filing itself always happens in the TapTax app, never from the chat, so HMRC receives the details of the device the person files from.

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• send_invoice

  Get one of the signed-in person’s invoices ready to email, with its PDF, to the client address on it from their business name. It opens a card showing exactly what the client will receive (who it goes to, the lines and the total) with a Send button. Nothing is emailed until the person presses Send on that card.

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• send_invoice_from_card

  Emails the invoice shown on a TapTax send card to its client, when the person presses Send on that card. Needs the one-time token the card was given.

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• update_transaction

  Change a transaction the signed-in person owns: mark it business or personal (this is how the review queue is cleared), or correct its category, description, amount or date.

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