1. What is Zakat?

Zakat is one of the Five Pillars of Islam, an obligatory form of almsgiving for Muslims who meet the necessary criteria of wealth. It's calculated as 2.5% of your wealth above the nisab threshold.

2. How is Zakat Calculated?

The calculator uses the standard Zakat formula:

Where:

• Wealth — Your total zakatable assets (cash, gold, investments, etc.)
• Nisab — The minimum threshold for zakat eligibility
• 2.5% — Fixed zakat rate on wealth above nisab

Explanation: Only wealth above the nisab threshold is subject to zakat. If your total wealth is below nisab, no zakat is due.

3. Current Nisab Value

Details: The nisab value is based on the current value of 87.48 grams of gold or 612.36 grams of silver. As of 2024, the silver-based nisab is approximately £440 in the UK.

4. Using the Calculator

Tips:

• Enter your total zakatable wealth in GBP
• The nisab field is pre-filled with the current silver-based value (£440)
• You can adjust the nisab if using gold-based calculation
• Zakat is only calculated on amounts above the nisab threshold

5. Frequently Asked Questions (FAQ)

Q1: What assets are included in zakat calculation?
A: Cash, gold, silver, investments, business inventory, and other liquid assets. Personal items like home/car are excluded.

Q2: Should I use gold or silver nisab?
A: Most scholars recommend using the silver nisab as it makes zakat obligatory for more people, benefiting the poor.

Q3: When is zakat due?
A: After one lunar year (Hawl) of owning wealth above nisab, typically during Ramadan.

Q4: Are debts deducted from wealth?
A: Yes, immediate debts can be deducted from your total wealth before zakat calculation.

Q5: Who is eligible to receive zakat?
A: The poor, needy, zakat collectors, those in debt, travelers, and others specified in the Quran (Surah At-Tawbah 9:60).