Question 1

How accurate are the calculators?

Accepted Answer

Our calculators use the latest tax rates and thresholds, updated for the 2026/27 tax year. While we strive for accuracy, the results should be used as estimates and not as financial advice. For precise calculations specific to your situation, please consult a financial advisor.

Question 2

Are the calculators free to use?

Accepted Answer

Yes, all calculators are completely free to use.

Question 3

How is my take-home pay calculated?

Accepted Answer

Your take-home pay is calculated by deducting Income Tax, National Insurance contributions, student loan repayments (if applicable), and pension contributions from your gross salary. We use the latest tax bands and thresholds for accuracy.

Question 4

What tax year are the calculations based on?

Accepted Answer

All calculations are based on the current 2026/27 tax year rates and thresholds. We regularly update our calculators to reflect any changes in tax legislation.

Question 5

What does this calculator show?

Accepted Answer

It produces a side-by-side breakdown of take-home pay for two different salary figures, including Income Tax, National Insurance, pension, and student loan deductions for each. You can see exactly how much the difference in gross salary translates to in net monthly and annual pay.

Question 6

When is it most useful?

Accepted Answer

It is particularly useful when evaluating a job offer — enter your current salary alongside the offered salary to see the real take-home difference after tax. It is also helpful for comparing the net effect of salary sacrifice arrangements or assessing the value of a pay rise.

Question 7

How does the Student Loan calculator work?

Accepted Answer

This tool estimates your monthly and yearly student loan repayments based on your salary and repayment plan (Plan 1, 2, 3, 4 or Plan 5).

Question 8

Can I choose a specific repayment plan?

Accepted Answer

Yes, simply select your loan plan within the calculator to get tailored results.

Question 9

How do I know which student loan plan I’m on?

Accepted Answer

Your plan depends on when and where you started your course. Plan 1 applies to English and Welsh students who started before September 2012, and all Scottish and Northern Irish students who took out a loan before 2012. Plan 2 applies to English and Welsh students who started between September 2012 and July 2023. Plan 3 (Postgraduate Loan) applies to students who took out a Postgraduate Master’s or Doctoral loan — repayments begin once earnings exceed £21,000 and run concurrently with any undergraduate plan. Plan 4 applies to Scottish students who started from 2012 onwards. Plan 5 applies to English students starting undergraduate courses from August 2023 onwards — it has a £25,000 repayment threshold in 2026/27 and a 40-year write-off period. If you are unsure, contact Student Finance directly to confirm your plan.

Question 10

How is my borrowing amount calculated?

Accepted Answer

The calculator estimates how much you could borrow based on your income, financial commitments, and lender affordability rules.

Question 11

Is this a guarantee of mortgage approval?

Accepted Answer

No, it’s just an estimate. Always speak to a mortgage advisor or lender for a full assessment.

Question 12

Why might a lender offer less than the calculator suggests?

Accepted Answer

Lenders apply their own internal affordability stress test on top of the income multiple — they assess whether you could afford repayments if interest rates were higher. Our calculator gives a useful estimate, but a lender’s formal offer reflects their full underwriting process, including credit history, existing commitments, and their own internal criteria.

Question 13

What does this calculator show?

Accepted Answer

It breaks down your monthly mortgage repayments based on the loan amount, interest rate, and term you provide.

Question 14

Can I include overpayments?

Accepted Answer

Yes, there’s an optional field to include regular overpayments and see the effect on your mortgage term and interest.

Question 15

How does the Car Payment calculator work?

Accepted Answer

It calculates your monthly car finance payments based on the amount borrowed, interest rate, and term. The results show your monthly payment, total amount repayable, and the total cost of credit — so you can see clearly how much the finance will cost over the full term.

Question 16

Does it include balloon payments?

Accepted Answer

Yes, this calculator covers both Hire Purchase and Personal Contract Purchase plans, including an optional final balloon payment.

Question 17

What can I calculate with this tool?

Accepted Answer

You can estimate your childcare expenses and see how much you could save using the government’s Tax-Free Childcare scheme, which tops up your contributions by 20% up to a maximum of £2,000 per child per year.

Question 18

Does it cover all UK regions?

Accepted Answer

The calculator is suitable for use across the UK. Funded hours distribution (term-time vs year-round) is currently modelled for England and Scotland.

Question 19

What does the Child Benefit calculator do?

Accepted Answer

It shows how much Child Benefit you could be entitled to and how much you may need to repay via the High Income Child Benefit Charge.

Question 20

Does it factor in salary sacrifice?

Accepted Answer

Yes, gross income after allowable deductions such as pension contributions is considered.

Question 21

How do I pay the High Income Child Benefit Charge?

Accepted Answer

Since September 2025, eligible employees can pay the HICBC through their PAYE tax code rather than filing a Self Assessment return. This option is available if the HICBC is your only reason for being registered for Self Assessment. Those with other Self Assessment obligations — such as self-employment income — must continue to file a return.

Question 22

How does this calculator help?

Accepted Answer

It estimates your potential savings under the government’s Tax-Free Childcare scheme.

Question 23

Can I compare different childcare options?

Accepted Answer

Yes, you can enter your childcare costs and the calculator will show savings across schemes.

Question 24

What’s included in the pension projection?

Accepted Answer

This tool estimates your future pension pot based on your current age, contributions, employer match, and expected investment returns.

Question 25

Does it include inflation?

Accepted Answer

Yes, we adjust the future value to show both real and nominal terms.

Question 26

Is there a limit on how much I can contribute to my pension?

Accepted Answer

Yes. Tax-relievable pension contributions are subject to an annual allowance of £60,000 per tax year, or 100% of your earnings if lower. Higher earners may face a reduced tapered allowance. The calculator does not enforce this limit, so if you are modelling large contributions, check your available allowance with a financial adviser before acting on the projection.

Question 27

What does this calculator do?

Accepted Answer

It shows how your investment can grow over time with compound interest, considering regular contributions and your interest rate.

Question 28

Can I change the compounding frequency?

Accepted Answer

Yes, choose from annual, monthly, or daily compounding to see different results, and even enter a savings goal you want to target.

Question 29

What is this calculator for?

Accepted Answer

It shows how inflation has changed the value of money between any two years, using official UK CPI or RPI data. Enter an amount, a start year, and an end year to see the equivalent purchasing power — whether you’re comparing a past sum to today’s money or projecting a current amount into the future.

Question 30

Can I compare past and future values?

Accepted Answer

Yes, simply enter a year in the past or future to compare the value of money across time.

Frequently Asked Questions

General

Take-Home Pay

Salary Comparison

Student Loan

Mortgage Affordability

Mortgage Payment

Car Payment

Childcare Cost

Child Benefit

Tax-Free Childcare

Pension Projection

Compound Interest

Purchasing Power

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