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Company Calculations - Inside IR35

Your Details

Your Details Rate £48
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 £45,712
Net Monthly Income £3,809
Company Income Contract revenue £79,860
Other income £0
Total revenue £79,860
Company Expenditure Allowable Expenses 5% £3,993
Employers N.I. on salary £0
Salary £8,000
Legitimate section 98 expenses £3,000
Pension contributions £0
Total expenditure £14,993
Net Result (Effective Income) £64,867
Additional Employers NI Due 19th April £7,866
Deemed payment £57,000
Tax Calculations Taxable Income (salary + deemed payment) £65,000
Employees NI £0
PAYE £0
Additional Employers NI £7,866
Additional Employees NI £4,927
Additional PAYE £14,360
Extra tax payable on 19th April £27,154

Other relevant information:

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