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How to Calculate Zakat

At Muslim Aid, we think paying your Zakat should be as easy as possible, which is why we have created a handy Zakat calculator for your ease and convenience.

Use our UK calculator below to determine how much Zakat to pay this lunar year. If you have already worked out how much you need to pay, then you can donate below; it is quick and easy!  

CALCULATE YOUR ZAKAT

How to Calculate Zakat ?

Giving Zakat is obligatory for all eligible Muslims and is based on the current nisab values. These can vary from year to year, which makes knowing how much to pay quite difficult. To simplify the rules around paying Zakat, use the nisab values for 2024 below and then enter your personal values into the Zakat calculator 2024 to determine your Zakat contribution. If you want a comprehensive guide on Zakat, click here for more information. 

How Much is Nisab for Zakat 2024

Silver – the value of 612.36g of silver

Gold – the value of 87.48g of gold

 

NISAB VALUE (as of 18/06/2024)

  • (Silver) 612.36g equating to £452.10
  • (Gold) 87.48g equating to £5117.79

Enter all assets that have been in your possession over a lunar year:

Value of Gold
£
Value of Silver
£

Cash:

In hand and in bank accounts
£
Deposited for some future purpose, e.g. Hajj
£
Given out in loans
£
Business investments, shares, saving certificates, pensions funded by money in ones possesssion
£

Trade Goods:

Value of Stock
£

Liabilities:

Borrowed money, goods bought on credit
£
Wages due to employees
£
Taxes, rent, utility bills due immediately
£

Total Assets

£0.00

Zakat Payable

£0.00

What is the Meaning of Zakat?

Zakat is one of the Five Pillars of Islam. It is a fundamental part of a believer’s religious obligations. Zakat means purification in the literal sense. It is a means of worshipping Allah (SWT) by giving that which He has enjoined to those who are entitled. Zakat is the act of giving a set percentage of total wealth to the eligible each lunar year and is required of every sane adult Muslim whose accumulated wealth exceeds the current Zakat nisab value. 

Paying Zakat is an act of worship. At Muslim Aid, we understand this wholeheartedly and strive hard to ensure your Zakat payment reaches the most vulnerable and needy communities in the world quickly and effectively. 

The rules and regulations surrounding Zakat may seem complicated. It is important to understand the Zakat nisab value when to pay Zakat, and to whom we can give it. Considering this, Muslim Aid has put together a brief guide around how to calculate Zakat - including the correct Zakat percentage of wealth to be paid and whether any Zakat tax is applicable in the UK.  

What is Nisab?

The Zakat nisab value is the minimum threshold required for an individual to be eligible to pay Zakat in that specific lunar year. Your total overall wealth must meet or exceed the nisab value in order for you to be eligible to pay Zakat.

What is the Nisab Value?

The most up-to-date nisab for gold and silver can be found at the top of the page. 

The nisab value is related to the current values of gold and silver and guides us on how much is Zakat. The nisab principles were set in accordance with the teachings of Prophet Muhammad (SAW). The nisab value can be described as 612.36g of silver or 87.48g of gold. Originally, these values of silver and gold were equal, but in the current day and age, they have become different, with the silver nisab being significantly lower than its gold counterpart.  

You can calculate the nisab value at any time by converting these weights into your local currency. 

Zakat Percentage – How Much Zakat to Pay

Your Zakat donation should amount to 2.5% of your total wealth accumulated over the year. As an example, if your total assets (after any debts owed) amounted to £10,000, then you would be required to pay £250 as Zakat. 

What is Zakat Due On?

When calculating your total wealth and assets, you must consider the following: 

  • The value of gold and silver items owned. 
  • Money in your bank accounts or cash at home. 
  • Loans that you have given out. 
  • Pensions, stocks, shares, and investments. 
  • Property owned as an investment (excluding the property you live in). 
  • Farm and agricultural produce.

You can use Muslim Aid’s Zakat calculator for gold, silver, cash, and other assets to determine your overall wealth and subsequently work out how much Zakat you need to pay. Please note that any debts you currently have outstanding, including any form of a loan, are ineligible for Zakat, so they must be deducted from the overall total. 

Zakat Rules on Tax in the UK

In the UK, tax can impact Zakat in a variety of ways, but there are Zakat rules to help if you have any queries. 

Personal taxes like road and income tax are not exempt from Zakat. The only exception to this is when the taxes being paid are overdue, in which case they become a deductible debt, though this is a rare situation.  

For self-employed people or business owners, filling in UK tax returns is an important part of the business. In this situation, many individuals will keep money in their bank specifically for when they fill in their tax returns. This figure being saved for tax is deductible from the Zakat total. 

Who is Eligible to Receive Zakat?

As an obligatory act of worship, your Zakat donation should go towards helping Zakat-eligible individuals, as decreed by the Holy Quran. Zakat payments are divided between those most in need in the light of the Holy Quran:

  • The poor 
  • The needy 
  • Travellers in need 
  • Those in debt 
  • Those being held against their will or in slavery 
  • New Muslims and friends of the Islamic community 
  • Those in the cause of Allah 

When to Pay Zakat

Zakat is typically based on a full lunar year, and as such, most Muslims pay this towards the end of the year. While many choose to pay Zakat during Ramadan, Muslim scholars warn against delaying the payment of Zakat. Instead, Zakat should be paid as soon as it becomes obligatory after a whole year has passed since the possession of wealth.  

However, Zakat can be given in advance. It is a good idea to pay Zakat in Ramadan to maximise the reward if someone’s Zakat has to become compulsory shortly after Ramadan.  

Administrators of Zakat

Muslim Aid is an international organisation with almost 35 years of experience in assisting some of the most vulnerable people in the world. The majority of our campaigns and appeals are Zakat-eligible. Join hands with Muslim Aid and let your Zakat donations make a substantial difference to vulnerable lives across the world. 

We are a faith-based British international charity that provides help to people who are victims of natural disasters or conflict or suffering from poverty, hunger, disease, homelessness, injustice, deprivation or lack of skills and economic opportunities.

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