Your Details
Your Details | Rate | £30 |
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 | 1250L | |
Personal Income | Net Annual Income | £30,502 |
Net Monthly Income | £2,541 | |
Company Income | Contract revenue | £49,500 |
Other income | £0 | |
Total revenue | £49,500 | |
Company Expenditure | Allowable Expenses 5% | £2,475 |
Employers N.I. on salary | £0 | |
Salary | £8,000 | |
Legitimate section 98 expenses | £3,000 | |
Pension contributions | £0 | |
Total expenditure | £13,475 | |
Net Result (Effective Income) | £36,025 | |
Additional Employers NI Due 19th April | £4,368 | |
Deemed payment | £31,656 | |
Tax Calculations | Taxable Income (salary + deemed payment) | £39,656 |
Employees NI | £0 | |
PAYE | £0 | |
Additional Employers NI | £4,368 | |
Additional Employees NI | £3,722 | |
Additional PAYE | £5,431 | |
Extra tax payable on 19th April | £13,522 |