PAYE (on £8,000, Tax code 1100L, Fiscal Year 2016/2017)
Band | Rate | Lower Limit | Upper Limit | Tax |
---|---|---|---|---|
Basic rate | 20% | 0 | £32,000 | £0 |
Higher rate | 40% | £32,000 | £150,000 | £0 |
Additional rate | 45% | £150,000 | - | £0 |
Total Tax: | £0 |
Employees NI (on £8,000, Fiscal Year 2016/2017)
Band | Rate | Lower Limit | Upper Limit | Tax |
---|---|---|---|---|
Primary threshold | 0% | 0 | £155 | 0 |
rate below upper earnings limit | 12% | £155 | £827 | £0 |
rate above upper earnings limit | 2% | £827 | - | £0 |
Total Tax: | £0 |
Employers NI (on £8,000, Fiscal Year 2016/2017)
Band | Rate | Lower Limit | Upper Limit | Tax |
---|---|---|---|---|
Secondary class 1 rate | 13.8% | £155 | - | £0 |
Total Tax: | £0 |
Corporation Tax (on £68,200, Fiscal Year 2016/2017)
Band | Rate | Lower Limit | Upper Limit | Tax |
---|---|---|---|---|
Main rate | 20% | 0 | - | £13,640 |
Total Tax: | £13,640 |
Dividend Payment (First Shareholder, Fiscal Year 2016/2017)
Salary | £8,000 |
Net Dividend | £54,560 |
Grossed up dividend (pre 2016/2017) | N/A |
Tax code | 1100L |
Taxable income (taxable dividends + salary - allowance) | £51,560 |
Amount subject to tax | £46,560 |
Dividend tax | £8,382 |
Band | Rate | Lower Limit | Upper Limit | Tax |
---|---|---|---|---|
basic rate | 7.5% | 0 | £32,000 | £2,025 |
higher rate | 32.5% | £32,000 | £150,000 | £6,357 |
additional rate | 38.1% | £150,000 | - | £0 |
Total Tax: | £8,382 |