Your Details
Your Details | Rate | £68 |
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 | £61,424 |
Net Monthly Income | £5,118 | |
Company Income | Contract revenue | £112,310 |
Other income | £0 | |
Total revenue | £112,310 | |
Company Expenditure | Allowable Expenses 5% | £5,615 |
Employers N.I. on salary | £0 | |
Salary | £8,000 | |
Legitimate section 98 expenses | £3,000 | |
Pension contributions | £0 | |
Total expenditure | £16,615 | |
Net Result (Effective Income) | £95,694 | |
Additional Employers NI Due 19th April | £11,604 | |
Deemed payment | £84,090 | |
Tax Calculations | Taxable Income (salary + deemed payment) | £92,090 |
Employees NI | £0 | |
PAYE | £0 | |
Additional Employers NI | £11,604 | |
Additional Employees NI | £5,469 | |
Additional PAYE | £25,196 | |
Extra tax payable on 19th April | £42,269 |