Your Details
Your Details | Rate | £31 |
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 | £31,673 |
Net Monthly Income | £2,639 | |
Company Income | Contract revenue | £51,562 |
Other income | £0 | |
Total revenue | £51,562 | |
Company Expenditure | Allowable Expenses 5% | £2,578 |
Employers N.I. on salary | £0 | |
Salary | £8,000 | |
Legitimate section 98 expenses | £3,000 | |
Pension contributions | £0 | |
Total expenditure | £13,578 | |
Net Result (Effective Income) | £37,984 | |
Additional Employers NI Due 19th April | £4,606 | |
Deemed payment | £33,378 | |
Tax Calculations | Taxable Income (salary + deemed payment) | £41,378 |
Employees NI | £0 | |
PAYE | £0 | |
Additional Employers NI | £4,606 | |
Additional Employees NI | £3,929 | |
Additional PAYE | £5,775 | |
Extra tax payable on 19th April | £14,311 |