Features:

1. Input: The user enters their annual income.
2. Tax Calculation: Calculates the tax liability based on the UK’s tax bands:
   • Personal Allowance: £12,570 (no tax on this portion).
   • Basic Rate (20%): Income between £12,570 and £50,270.
   • Higher Rate (40%): Income between £50,270 and £125,140.
   • Additional Rate (45%): Income over £125,140.
3. National Insurance (NI): Calculates NI contributions using the 2023/2024 rates.
4. Output: Displays the total income tax, NI contributions, total tax, and take-home pay.

How It Works:

• Income Tax: Tax is calculated based on the user’s taxable income, applying different tax rates for different bands.
• National Insurance: NI contributions are calculated based on thresholds, with different percentages applied to different income levels.
• Result: Displays total tax, NI, and take-home pay after deductions.

Income Tax Calculator for the UK, which helps users calculate how much income tax they owe based on their salary for the tax year. This calculator can be especially useful for employees, freelancers, or anyone trying to understand their tax obligations for the current tax year (2023/2024).