Your Details
Your Details | Rate | £800 |
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 | £87,889 |
Net Monthly Income | £7,324 | |
Company Income | Contract revenue | £176,000 |
Other income | £0 | |
Total revenue | £176,000 | |
Company Expenditure | Allowable Expenses 5% | £8,800 |
Employers N.I. on salary | £0 | |
Salary | £8,000 | |
Legitimate section 98 expenses | £3,000 | |
Pension contributions | £0 | |
Total expenditure | £19,800 | |
Net Result (Effective Income) | £156,200 | |
Additional Employers NI Due 19th April | £18,941 | |
Deemed payment | £137,258 | |
Tax Calculations | Taxable Income (salary + deemed payment) | £145,258 |
Employees NI | £0 | |
PAYE | £0 | |
Additional Employers NI | £18,941 | |
Additional Employees NI | £6,765 | |
Additional PAYE | £50,603 | |
Extra tax payable on 19th April | £76,310 |