Your Details
Your Details | Rate | £60 |
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 | 1150L | |
Personal Income | Net Annual Income | £54,744 |
Net Monthly Income | £4,562 | |
Company Income | Contract revenue | £99,000 |
Other income | £0 | |
Total revenue | £99,000 | |
Company Expenditure | Allowable Expenses 5% | £4,950 |
Employers N.I. on salary | £0 | |
Salary | £8,000 | |
Legitimate section 98 expenses | £3,000 | |
Pension contributions | £0 | |
Total expenditure | £15,950 | |
Net Result (Effective Income) | £83,050 | |
Additional Employers NI Due 19th April | £10,071 | |
Deemed payment | £72,978 | |
Tax Calculations | Taxable Income (salary + deemed payment) | £80,978 |
Employees NI | £0 | |
PAYE | £0 | |
Additional Employers NI | £10,071 | |
Additional Employees NI | £5,143 | |
Additional PAYE | £21,091 | |
Extra tax payable on 19th April | £36,305 |