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 £53,350, Fiscal Year 2016/2017)
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| Main rate | 20% | 0 | - | £10,670 |
| Total Tax: | £10,670 |
Dividend Payment (First Shareholder, Fiscal Year 2016/2017)
| Salary | £8,000 |
| Net Dividend | £42,680 |
| Grossed up dividend (pre 2016/2017) | N/A |
| Tax code | 1100L |
| Taxable income (taxable dividends + salary - allowance) | £39,680 |
| Amount subject to tax | £34,680 |
| Dividend tax | £4,521 |
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| basic rate | 7.5% | 0 | £32,000 | £2,025 |
| higher rate | 32.5% | £32,000 | £150,000 | £2,496 |
| additional rate | 38.1% | £150,000 | - | £0 |
| Total Tax: | £4,521 |