Your Details
Your Details | Rate | £65 |
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 | 1185L | |
Personal Income | Net Annual Income | £58,974 |
Net Monthly Income | £4,914 | |
Company Income | Contract revenue | £107,250 |
Other income | £0 | |
Total revenue | £107,250 | |
Company Expenditure | Allowable Expenses 5% | £5,362 |
Employers N.I. on salary | £0 | |
Salary | £8,000 | |
Legitimate section 98 expenses | £3,000 | |
Pension contributions | £0 | |
Total expenditure | £16,362 | |
Net Result (Effective Income) | £90,887 | |
Additional Employers NI Due 19th April | £11,021 | |
Deemed payment | £79,865 | |
Tax Calculations | Taxable Income (salary + deemed payment) | £87,865 |
Employees NI | £0 | |
PAYE | £0 | |
Additional Employers NI | £11,021 | |
Additional Employees NI | £5,384 | |
Additional PAYE | £23,506 | |
Extra tax payable on 19th April | £39,912 |