Company Calculations - Inside IR35
Your Details
| Your Details |
Rate |
£500 |
|
Rate Type |
Daily |
|
Hours per week |
|
|
Days per week |
5 |
|
Weeks per year |
48 |
|
Salary |
£0 |
|
Legitimate section 98 expenses |
£0 |
|
Pension contributions |
£0 |
| |
Other income |
£0 |
|
Tax code |
1250L |
| Personal Income |
Net Annual Income |
£66,599
|
|
Net Monthly Income |
£5,549 |
| Company Income |
Contract revenue |
£120,000 |
|
Other income |
£0 |
|
Total revenue |
£120,000
|
| Company Expenditure |
Allowable Expenses 5% |
£6,000 |
|
Employers N.I. on salary |
£0 |
|
Salary |
£0 |
|
Legitimate section 98 expenses |
£0 |
|
Pension contributions |
£0 |
|
Total expenditure |
£6,000
|
|
Net Result (Effective Income) |
£114,000
|
|
Additional Employers NI Due 19th April |
£13,824 |
|
Deemed payment |
£100,175 |
| Tax Calculations |
Taxable Income (salary + deemed payment) |
£100,175 |
|
Employees NI |
£0 |
|
PAYE |
£0 |
|
Additional Employers NI |
£13,824 |
|
Additional Employees NI |
£5,970 |
|
Additional PAYE |
£27,606 |
|
Extra tax payable on 19th April |
£ |