Zakat Calculator


Gold & Silver

Value of gold you possess: £
Value of silver you possess: £

Cash

In hand and in bank accounts: £
Savings for the future: £
Money you have loaned: £
Business investments: £

Business Assets

Stock value: £

Liabilities

Money owed (borrowed or credit): £
Employees’ salaries: £
Other outgoings due (tax, rent, utilities): £
Total Assets: £
Total Zakat Due £

CURRENT NISAB VALUES

Gold £2331.87           Silver £216.04
The Nisab value of gold should only be used if the asset of one's wealth is only gold. If one has mixed wealth, which includes having cash, silver and gold, the Nisab value of Silver is used to determine the minimum threshold of paying zakat.


I understand that I must have paid income or capital gains tax (in the UK) equal to the tax that will be claimed by all the charities that I donate to (currently 25p for every £1 you give) in the same tax year. The tax reclaimed will be used to help fund the administration costs of the charity. I understand I must notify READ Foundation if I am no longer eligible, wish to cancel this declaration, change my name or home address or if I no longer pay sufficient income or capital gains tax. I understand that if I pay less Income Tax and / or Capital Gains Tax than the amount of Gift Aid claimed on all my donations in that tax year it is my responsibility to pay any difference.
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What is Zakat?

Zakat is one of the five pillars of Islam. Zakat is a means of purifying our wealth by giving a part of it to help those in need.

Where do Zakat payments go?

Allah (S) tells us in the Quran that Zakat should go to

  • The poor
  • The destitute
  • New Muslims facing hardship
  • To free slaves
  • Those who are unable to pay their debt
  • In the path of Allah (S)
  • Travellers who cannot afford to return home
Who pays Zakat?

All Muslim adults who are sane and possess the nisab (a minimum amount of wealth held for a year) should pay Zakat.

How much is the Nisab?

Nisab can be determined in terms of gold or silver – please see the Zakat calculator for details.

How much Zakat do I need to pay?

Although there are no specific guidelines in the Holy Qur’an on exact percentages to be given, the customary practice is to give 2.5% on your capital assets.

How do I work out how much Zakat to pay?

You don’t have to do lots of complicated maths to work out your Zakat payment –simply use our handy online calculator.

What types of wealth are included in Zakat?

Assets included in the Zakat calculation are cash, shares, pensions, gold and silver, business goods, and income from investment property.

When should I pay Zakat?

Zakat is payable as soon as the nisab (minimum amount of wealth) has been held for a lunar year.

Wealth fluctuates throughout the year and can go above and below the nisab. Zakat is only due if your wealth is in excess of the nisab at the end of a Zakat year.

Can I spread Zakat payments throughout the year?

Yes, zakat can be paid monthly by setting up a regular monthly payment such as a direct debit for our orphan sponsorship scheme.

What if I miss a Zakat payment?

If Zakat has not been paid in previous years, then you must make all attempts to calculate the amount and pay this.

Can you claim Gift Aid on my Zakat payment?