Note: From the 2010-11 tax year the Personal Allowance reduces where the income is above £100,000 – by £1 for every £2 of income above the £100,000 limit. Because your income is above £100,000 your tax allowance has been reduced from £11,500 to £6,800.
PAYE (on £8,000, Tax code 680L, Fiscal Year 2017/2018)
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| Basic rate | 20% | 0 | £33,500 | £240 |
| Higher rate | 40% | £33,500 | £150,000 | £0 |
| Additional rate | 45% | £150,000 | - | £0 |
| Total Tax: | £240 |
Employees NI (on £8,000, Fiscal Year 2017/2018)
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| Primary threshold | 0% | 0 | £157 | 0 |
| rate below upper earnings limit | 12% | £157 | £866 | £0 |
| rate above upper earnings limit | 2% | £866 | - | £0 |
| Total Tax: | £0 |
Employers NI (on £8,000, Fiscal Year 2017/2018)
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| Secondary class 1 rate | 13.8% | £157 | - | £0 |
| Total Tax: | £0 |
IR35 Taxes (on Deemed Payment of £101,381, Fiscal Year 2017/2018)
| Additional Employers NI | £13,990 |
| Additional Employees NI | £5,711 |
| Additional Paye | £34,332 |
| Total Taxes payable in April | £54,034 |