Relevant Life Calculator

<script>

    function calculate() {

        const premium = parseFloat(document.getElementById('premium').value);

        const taxRate = parseFloat(document.getElementById('taxRate').value) / 100;

        const corpTaxRate = parseFloat(document.getElementById('corpTaxRate').value) / 100;

        const incomeTaxRate = parseFloat(document.getElementById('incomeTaxRate').value) / 100;

        const employeeNiRate = parseFloat(document.getElementById('employeeNiRate').value) / 100;

        const employerNiRate = parseFloat(document.getElementById('employerNiRate').value) / 100;

        const grossSalaryIncrease = premium / (1 - incomeTaxRate - employeeNiRate);

        const employeeNi = grossSalaryIncrease * employeeNiRate;

        const employeeTax = grossSalaryIncrease * incomeTaxRate;

        const employerNi = grossSalaryIncrease * employerNiRate;

        const corpTaxReliefOrdinary = (grossSalaryIncrease + employerNi) * corpTaxRate;

        const netCostOrdinary = grossSalaryIncrease + employerNi - corpTaxReliefOrdinary;

        const corpTaxReliefRelevant = premium * corpTaxRate;

        const netCostRelevant = premium - corpTaxReliefRelevant;

        const totalSaving = netCostOrdinary - netCostRelevant;

        document.getElementById('results').innerHTML = `

            <strong>Ordinary Life Policy:</strong><br>

            Gross Salary Increase: £${grossSalaryIncrease.toFixed(2)}<br>

            Employee National Insurance: £${employeeNi.toFixed(2)}<br>

            Employee Income Tax: £${employeeTax.toFixed(2)}<br>

            Employer National Insurance: £${employerNi.toFixed(2)}<br>

            Corporation Tax Relief: £${corpTaxReliefOrdinary.toFixed(2)}<br>

            Net Cost: £${netCostOrdinary.toFixed(2)}<br><br>

            <strong>Relevant Life Policy:</strong><br>

            Corporation Tax Relief: £${corpTaxReliefRelevant.toFixed(2)}<br>

            Net Cost: £${netCostRelevant.toFixed(2)}<br><br>

            <strong>Total Saving:</strong> £${totalSaving.toFixed(2)}

        `;

    }

</script>