Tax Rates 2024 Calculator Uk. How much of your income is above your personal allowance.  — a simple way to calculate vat is multiplying your prices by 1.20 for standard rate vat or multiplying your prices by 1.05 for reduced rate vat.

 — the most common code for 2024/25 is 1257l, which means you’re entitled to the full personal allowance of £12,570. 2023/2024 tax rates and allowances.