Your Details
Your Details | Rate | £50 |
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 | £46,755 |
Net Monthly Income | £3,896 | |
Company Income | Contract revenue | £82,500 |
Other income | £0 | |
Total revenue | £82,500 | |
Company Expenditure | Allowable Expenses 5% | £4,125 |
Employers N.I. on salary | £0 | |
Salary | £8,000 | |
Legitimate section 98 expenses | £3,000 | |
Pension contributions | £0 | |
Total expenditure | £15,125 | |
Net Result (Effective Income) | £67,375 | |
Additional Employers NI Due 19th April | £8,170 | |
Deemed payment | £59,204 | |
Tax Calculations | Taxable Income (salary + deemed payment) | £67,204 |
Employees NI | £0 | |
PAYE | £0 | |
Additional Employers NI | £8,170 | |
Additional Employees NI | £4,867 | |
Additional PAYE | £15,581 | |
Extra tax payable on 19th April | £28,619 |