Your Details
Your Details | Rate | £51 |
Rate Type | Hourly | |
Hours per week | 37.5 | |
Days per week | 5 | |
Weeks per year | 44 | |
Salary | £8,000 | |
Legitimate section 98 expenses | £3,000 | |
Pension contributions | £0 | |
Other income | £0 | |
Tax code | 1100L | |
Personal Income | Net Annual Income | £47,830 |
Net Monthly Income | £3,985 | |
Company Income | Contract revenue | £85,359 |
Other income | £0 | |
Total revenue | £85,359 | |
Company Expenditure | Allowable Expenses 5% | £4,267 |
Employers N.I. on salary | £0 | |
Salary | £8,000 | |
Legitimate section 98 expenses | £3,000 | |
Pension contributions | £0 | |
Total expenditure | £15,267 | |
Net Result (Effective Income) | £70,091 | |
Additional Employers NI Due 19th April | £8,499 | |
Deemed payment | £61,592 | |
Tax Calculations | Taxable Income (salary + deemed payment) | £69,592 |
Employees NI | £0 | |
PAYE | £0 | |
Additional Employers NI | £8,499 | |
Additional Employees NI | £4,725 | |
Additional PAYE | £17,036 | |
Extra tax payable on 19th April | £30,261 |