We cover how to calculate your UK National Insurance in Excel. The UK follows a progressive system and therefore, the VLOOKUP function with its approximate match is particularly useful when calculating insurance payments. We will start by identifying the amount payable in each band. We will then calculate intermediary calculations which we will use to determine how much insurance you must pay both annually and monthly based on your taxable income.
DISCLAIMER: Although I have taken great care to check all of the calculations, I am not a qualified accountant and you should not use this video to substitute financial advice. Make sure you talk to your own accountant before you use this calculator to make any financial decisions.
2020-21 UK National Insurance rates and bands:
https://www.gov.uk/national-insurance/how-much-you-pay
VLOOKUP Function Tutorial:
https://youtu.be/KvS-1o1C--g
Calculate UK Income Tax Using VLOOKUP In Excel:
https://youtu.be/HL_HR6ZxrSY
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[email protected]Overview: (0:00)
Step 1 Format Table: (1:03)
Step 2 Input & Intermediary Calculations: (2:26)
Step 3 Outputs: (4:37)