Khums Calculation

Surplus

Amount you own, in British Pounds ?

Calculated on your khums due date.

Equivalent amount, in British Pounds, of foreign currency you own ?

Calculated on your khums due date.

Debts owed to you that you expect to be repaid ?

Do not include this if it was accounted for in previous financial years.

In-kind possessions not used for sustenance ?

This includes buildings, farms, factories, commodities, work tools, and any household items or possessions not used for sustenance. Calculate these at present value if they were acquired with surplus income on which a year has not elapsed, and at cost price if they were acquired with surplus income on which a year has elapsed. If acquired with a combination of income, then calculate these at present value in relation to what was acquired with surplus income on which a year has not elapsed, and at cost price in relation to what was acquired with surplus income on which a year has elapsed.

Financial dues ?

This includes the due of key premium (surqufliah), the due of utilizing agricultural lands owned by the state, and the due of revival of lands which are fenced and prepared for residency. Calculate these at present value if they were acquired with surplus income on which a year has not elapsed, and at cost price if they were acquired with surplus income on which a year has elapsed. If acquired with a combination of income, then calculate these at present value in relation to what was acquired with surplus income on which a year has not elapsed, and at cost price in relation to what was acquired with surplus income on which a year has elapsed.

Amount you utilized prior to your khums due date ?

This is cash which was subject to khums prior to your khums due date, and which you have already spent (e.g. If this is the first year you pay khums, despite having needed to pay khums in previous years)

Fungible items you utilized prior to your khums due date ?

These are fungible items which were subject to khums prior to your khums due date, and which you have already utilized. Calculate these according to present value. Fungible items are those which are freely exchangeable or replaceable, in whole or in part, for another item of a similar nature, such as machinery or factory-produced fabrics.

Non-fungible items you utilized prior to your khums due date ?

These are non-fungible items which were subject to khums prior to your khums due date, and which you have already utilized. Calculate these according to their value at point of utilization. Non–fungible items are unique items, such as unique paintings, monuments, and unique jewelry.

Amount you already paid with intention of Sahm Al-Imam ?

Amount you paid with the intention of Sahm Al-Imam before your khums due date.

Amount you already paid with intention of Sahm Al-Sada ?

Amount you paid with the intention of Sahm Al-Sada before your khums due date.

Deductions

Commercial debts ?

Include all commercial debts you still owe others.

Remaining sustenance debts taken in the financial year ?

Includes debts borrowed in the financial year for accommodation (mortgage), a car, etc. Please refer to more detailed rulings for accounting for mortgages.

Remaining sustenance debts taken in previous financial years ?

Includes debts borrowed in the previous financial year for accommodation (mortgage), a car, etc. The asset (house, car, etc.) must still be in your possession. Calculate only the amount that you have not deducted from your profits in previous financial years. Please refer to more detailed rulings for accounting for mortgages.

Amount you own which has already been subjected to khums ?

Calculated on your khums due date. Includes the remainder of funds that were subject to khums in previous years and on which you have already paid khums.

Notes

1) Your khums due date is the first day you started your job or business. If you are retired or not in employment, then you can agree a khums due date with a representative of the marja'a, or calculate separate khums years for each profit that you make, from the date you made that profit.
2) The khums of commercial commodities and real estate(s) which are intended for trading, should be paid in accordance with their current market value, even if they were bought with profits which a year has elapsed on, unless the price at which they were bought is higher than the current value.
3) If the calculations show that the amount of khums due is negative as a result of sustenance debts, then the amount of the sustenance debt equivalent to the amount of khums due for the rest of the item is calculated and excluded.
4) If sustenance debts are fully repaid in the financial year, this amount is excluded from the profits.
5) Possessions which are not subject to khums are:
1. a. Possessions owned through inheritance:
2. i. Cash
3. ii. Real Estate
4. iii. Objects that are transferrable and the like
5. b. Possessions owned by the wife from the dowry (mahr):
6. i. Cash
7. ii. Gold Jewellery
8. iii. Home furniture and the like
9. c. Possessions used for personal or family provisions from the profits of that financial year:
10. i. Home residence
11. ii. Home furniture and other household items
12. iii. Gardens used for leisure and to personally benefit from their fruit
13. iv. Personal or family cars
14. v. Animals that are benefited from by the household such as a cow for milk or a chicken for eggs
15. d. Debts owed by others that you do not expect to be repaid.
16. e. Items purchased through debt that has not yet been repaid.

Total amount subject to Khums £0

Khums Due £0

Sahm al Imam to be paid £0

Sahm al Sada to be paid £0

Email me Khums report

Get Ramadan Ready…

13 March 2023

Is it hard to believe that Ramadan is just around the corner? How do we get into the Ramadan spirit this year? Here are some tips to make the most of the days leading up to the month of mercy.

1. Establish a daily dua practice.

Make it a practice to offer a five-minute daily prayer to Allah. Take a moment to find a quiet place, collect your thoughts, and establish a daily meditative routine as we approach the blessed month.

2. Approach your food mindfully and remember the importance of nutrition.

Good health is a precious asset. Ramadan is a time for fasting and reducing food intake. Our bodies are designed to adapt to the lower calories we take in during the day. However, preparing your mind and body a few days in advance can be very beneficial.

Consider eliminating starchy, sugary foods and reducing frequent snacking. Try going for slightly more extended periods without eating—for instance, a later-than-usual breakfast or skipping lunch for an early dinner. Be mindful of portion sizes, take your vitamins, and drink lots of water to stay hydrated!

3. Get into the habit of reading the Holy Quran

No doubt reading the Qur’an throughout Ramadan holds enormous amounts of reward. Unfortunately, with our busy schedules, we often put aside this necessary deed until Ramadan. Reading at least one page daily will help you develop a bond with the Qur’an, build consistency, and multiply your rewards before the month of fasting.

4. Prepare a list of Ramadan goals.

Some of us make lengthy New Year resolutions and lofty bucket lists. However, now is the time to make a spiritually powered list of targets specifically for Ramadan.

The list could include objectives such as praying on time, refraining from gossip, and making Istighfaar 100 times daily. Furthermore, ensuring regular Sadaqa can be one of the most important goals, which takes us to our final recommendation.

5. Give Sadaqa

Sadaqa (Charity) means giving something out of kindness, religious duty, or generosity. It is a powerful gift from Allah that protects your successes and blesses you in hardships. The act of Sadaqa during Ramadan has immeasurable benefits; however, to start giving charity beforehand is a means of our purification in preparation for Ramadan.

After all, don’t we all want to try and start Ramadan on a clean slate?

6. Make the most of the merits of Sha’ban.

It is said that Rajab is the month to sow the seeds. Sha’ban is the month to irrigate the crop, and Ramadan is the month to reap the harvest.

Fasting during Sha’ban is highly recommended for seeking rewards and forgiveness from Allah. Sha’ban can act as a bridge between the two sacred months and be a perfect time to prepare for Ramadan’s prolonged fasting and intense worship. Moreover, giving charity during Sha’ban can maximise the rewards of Ramadan.

Take advantage of the virtues of Sha’ban and transform the life of an orphaned child today by giving Sadaqa.

Alternatively, you could make a one-off Sadaqa donation, set up regular e-giving or request a Sadaqa Box from Al-Ayn for your home or business.

It’s only a handful of days until the beautiful month of fasting, unity, prayers, and delicious iftars commence.

What are you waiting for? Start making minor changes to reap huge rewards Insh’Allah.