Learn how to calculate your Zakat liability. Sample calculation steps based on your savings, gold, and cash assets.
How to Calculate Zakat?
Zakat is given at a rate of 2.5% on assets that reach the nisab amount after basic needs and debts are deducted. Here is a simple example:
Cash Asset: £3,800
Gold (50g x £40.48): £2,024
Savings Account: £1,250
Total Assets: £7,074
Zakat Amount (2.5%): £176.85
Gold (50g x £40.48): £2,024
Savings Account: £1,250
Total Assets: £7,074
Zakat Amount (2.5%): £176.85
* The gold gram prices used in the sample calculation are representative.