Written by Morgan Menzies on 22nd July 2017 in MMAccounts App

The Morgan Menzies App has tons of really useful calculators covering a wide range of applications, each one designed to give you information you might need when ‘on the move’.

Here’s a round up of the power and potential of the calculators included with your App:

APR

Want to know the APR based on a nominal rate of interest? Just enter the figures and tap ‘calculate’.

VAT

Use this calculator to work out the amount of VAT included in any figure, or the VAT that needs to be added to a VAT-exclusive amount.

Stamp Duty

This calculator determines the amount of stamp duty chargeable on the purchase of property or shares. Stamp Duty is a complex tax, so please contact us if you are unsure of how it is applied.

Loan

This calculator helps you work out the amount of interest and fixed monthly repayments on any loan.

Inheritance Tax

Careful planning is required whenever Inheritance Tax is involved. This calculator provides a simple answer to the amount of Inheritance Tax payable if little or no planning is undertaken.

Mortgage

This mortgage calculator works out how much monthly repayments will be depending on the size of the mortgage, the term of the loan and the current interest rate being charged.

Contractors

Enter your daily or hourly rate of pay into this calculator and it will show your monthly and annual contract values and your expected monthly take-home pay.

Savings

This calculator enables you to calculate the growth in your savings over a fixed period and how much you could expect in interest if you reinvest the total amount at the end of the term.

Payslip

Simply enter your tax code and gross salary and this calculator will show you how much your net pay will be after tax and NI deductions.

Company Car

How much will you be taxed if you have the benefit of a company car? Just enter the details in this calculator and it will show you how much tax you will have to pay for the company car and related fuel benefits.

Income Tax

Want to know how much your annual take-home pay will be? Just enter the amount of your weekly or monthly pay and you’ll be able to see the total deductions for tax and NI and your net earnings.  

Increased Profit

Want to see what a 10% increase in sales will do to your profitability? Enter the figures from your accounts and this calculator allows you to use ‘what-if’ options to see what happens to your net profit.

Dividend vs. Salary

Is it more advantageous to take profits from your business as salary, or dividends? Just enter your net profit figure and you’ll see what the different answers are.

Corporation Tax

Enter your profits for the year and you’ll see how much Corporation Tax you’ll have to pay and what your Profit After Tax will be.

Income Tax

Enter your gross pay and whether you are paid weekly or monthly and you’ll see how much tax and NIC you’ll pay and what your take-home pay will be.

Should I incorporate?

Often a difficult decision to make… Just enter your expected profits for the year and the number of partners in the business and the calculator will work out whether it’s more beneficial to be taxed as a sole trader or as a limited company.

Capital Gains Tax

This calculator will calculate the yearly Capital Gains Tax, which will be due on disposals in a selected tax year. It takes your other income after allowances into account as well as any capital losses available at the start of that year.

We hope you’ll find these calculators useful. They can all be used completely free of charge – and as many times as you like. If you think any of your friends and colleagues might find them useful, too, then please suggest that they can download our App free of charge from the Apple or Android stores.

Please note that the results shown in the calculators are to be used as a guide only and are not designed to be used as a substitute for professional advice.

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