How the Calculator works

The calculator presumes that you are a tax payer, aged 22 and over, with standard personal allowances contracted in for National Insurance. Actual savings will depend on your personal circumstances.

Current NMW Rates from 1 October 2007

• The main rate for workers aged 22 and over - £5.52 an hour, from £5.35
• The accredited training rate for workers aged 22 and over who are receiving accredited training in the first six months of a job with a new employer - £4.60 an hour, from £4.45
• The development rate for 18-21 year olds - £4.60 an hour, from £4.45
• The development rate for 16-17 years olds - £3.40 an hour, from £3.30

You should always take advice regarding the relative benefits of the scheme compared with your entitlement to Working Tax Credits and in particular to the Childcare Element.

Call the Tax Credits helpline

• Call the Tax Credits helpline on 0845 300 3900
• Or visit www.taxcredits.inlandrevenue.gov.uk