Shield for Contractors

The UK's leading contractor site. 200,000 average monthly visitors.

Company Calculations - Inside IR35

Your Details

Your Details Rate 88
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 74,176
Net Monthly Income 6,181
Company Income Contract revenue 145,398
Other income 0
Total revenue 145,398
Company Expenditure Allowable Expenses 5% 7,269
Employers N.I. on salary 0
Salary 8,000
Legitimate section 98 expenses 3,000
Pension contributions 0
Total expenditure 18,269
Net Result (Effective Income) 127,128
Additional Employers NI Due 19th April 15,416
Deemed payment 111,711
Tax Calculations Taxable Income (salary + deemed payment) 119,711
Employees NI 0
PAYE 0
Additional Employers NI 15,416
Additional Employees NI 6,274
Additional PAYE 39,260
Extra tax payable on 19th April 60,951

Other relevant information:

Show tax calculations