SavingTax

Read your results

What the figures on the Scenarios and Tax Impact tabs mean.

SavingTax shows your results in two places on Home: the Scenarios tab, for a what-if you’re trying, and the Tax Impact tab, for the plan you’ve saved. All figures are estimates.

On the Scenarios tab

  • Estimated tax benefit: the tax this scenario could save you, at the top.
  • Original tax and Adjusted Income: where you start, before the scenario.
  • New tax and Net position: where you’d end up with it.
  • Achieved Rate: your effective tax rate with the scenario. It can differ from the target you set. Tap the i next to it to see why.
  • Tax-saving plan: the contributions the scenario suggests for each option. Tap the i to see how they’re worked out, and How is this calculated? for the detail.
  • Scenario impact: a side-by-side of No Plan, Saved Plan and What If, with Overall Tax, Tax Saving and Overall Tax Rate.

If some budget shows as unallocated, tap the i beside it to see why.

Scenarios tab after a run, with two callouts: (1) an estimated tax benefit of £2,051, and (2) original tax £12,551, new tax £10,501 and a 16% saving. The tax-saving plan is below

On the Tax Impact tab

  • Tax without plan, Tax with plan and Effective rate: the headline comparison.
  • Short notes such as Avoids Child Benefit tax charge or Restores Personal Allowance, when your plan achieves them.
  • Total relief generated, and where it goes: the tax you save, top-ups added to your pensions and ISAs, and the Gift Aid top-up that goes to charity.
  • How adjusted net income is worked out, if you want to see the steps.

Tax Impact tab with two callouts: (1) total relief generated of £2,051, and (2) tax without plan £12,551, tax with plan £10,501 and an effective rate of 16.2%. Where your savings come from is below

Remember

These are estimates based on what you entered and on HMRC rates for the tax year. They aren’t a recommendation or personal financial advice.