Your Details
Your Details | Rate | £47 |
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 | £44,891 |
Net Monthly Income | £3,740 | |
Company Income | Contract revenue | £78,650 |
Other income | £0 | |
Total revenue | £78,650 | |
Company Expenditure | Allowable Expenses 5% | £3,932 |
Employers N.I. on salary | £0 | |
Salary | £8,000 | |
Legitimate section 98 expenses | £3,000 | |
Pension contributions | £0 | |
Total expenditure | £14,932 | |
Net Result (Effective Income) | £63,717 | |
Additional Employers NI Due 19th April | £7,726 | |
Deemed payment | £55,990 | |
Tax Calculations | Taxable Income (salary + deemed payment) | £63,990 |
Employees NI | £0 | |
PAYE | £0 | |
Additional Employers NI | £7,726 | |
Additional Employees NI | £4,803 | |
Additional PAYE | £14,296 | |
Extra tax payable on 19th April | £26,826 |