Setting up Tax Pots

The Tax Pot is Thistle's smart feature that helps you prepare for tax season:

How It Works: Every time you log income, Thistle automatically calculates the estimated tax you'll owe based on current HMRC rates and your income bracket.

Customization: Go to Settings → Tax Settings to adjust your tax rate if you have specific circumstances (e.g., Marriage Allowance, Student Loan).

Viewing Your Pot: Your Tax Pot balance is always visible on your dashboard. It shows how much you should set aside for Self Assessment.

National Insurance: The calculation includes both Income Tax and Class 2/4 National Insurance contributions.

Updates: Tax rates are automatically updated each April when HMRC announces new thresholds.

Remember: This is an estimate. Always consult with an accountant for final tax advice.