Your Details
Your Details | Rate | £685 |
Rate Type | Daily | |
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 | £75,742 |
Net Monthly Income | £6,311 | |
Company Income | Contract revenue | £150,818 |
Other income | £0 | |
Total revenue | £150,818 | |
Company Expenditure | Allowable Expenses 5% | £7,540 |
Employers N.I. on salary | £0 | |
Salary | £8,000 | |
Legitimate section 98 expenses | £3,000 | |
Pension contributions | £0 | |
Total expenditure | £18,540 | |
Net Result (Effective Income) | £132,277 | |
Additional Employers NI Due 19th April | £16,040 | |
Deemed payment | £116,237 | |
Tax Calculations | Taxable Income (salary + deemed payment) | £124,237 |
Employees NI | £0 | |
PAYE | £0 | |
Additional Employers NI | £16,040 | |
Additional Employees NI | £6,451 | |
Additional PAYE | £42,042 | |
Extra tax payable on 19th April | £64,534 |