Your Details
Your Details | Rate | £103 |
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 | 1257L | |
Personal Income | Net Annual Income | £85,451 |
Net Monthly Income | £7,120 | |
Company Income | Contract revenue | £170,923 |
Other income | £0 | |
Total revenue | £170,923 | |
Company Expenditure | Allowable Expenses 5% | £8,546 |
Employers N.I. on salary | £0 | |
Salary | £8,000 | |
Legitimate section 98 expenses | £3,000 | |
Pension contributions | £0 | |
Total expenditure | £19,546 | |
Net Result (Effective Income) | £151,377 | |
Additional Employers NI Due 19th April | £18,356 | |
Deemed payment | £133,020 | |
Tax Calculations | Taxable Income (salary + deemed payment) | £141,020 |
Employees NI | £0 | |
PAYE | £0 | |
Additional Employers NI | £18,356 | |
Additional Employees NI | £6,700 | |
Additional PAYE | £48,868 | |
Extra tax payable on 19th April | £73,925 |