savingtool / hmrc-income-tax Goto Github PK

It makes sense to make this change and release a new version of the lib shortly before or on April 1st 2024

In SavingTool, src/selectors/taxes.ts L50 it seems like we are passing "gross" income to the student loan calculations. I am not sure this is correct?

Either it's a bug in SavingTool or this project.

This change has now taken affect, this library needs updating to reflect that

STUDENT_LOAN_PLAN_1_WEEKLY_THRESHOLD is off for 23/24 - correct value is now £423 - src https://www.gov.uk/repaying-your-student-loan/what-you-pay

Plan 2 threshold of £524 still stands

calculateEmployeeNationalInsurance is documented as requiring taxableAnnualIncome, which isn't quite right. I'm not quite sure what to call it, and HMRC seem to careful avoid giving it a name, but it's more like the gross, cash, employment income?

I understand why SavingTool makes the salary sacrifice assumption to simplify things!

Thank you so much for this library; I've been using it for a personal finance tool that's slightly more tailored to me and it's really helpful :)