Contractor Accountant

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Company Calculations - Inside IR35

Your Details

Your Details Rate 68
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 62,632
Net Monthly Income 5,219
Company Income Contract revenue 113,410
Other income 0
Total revenue 113,410
Company Expenditure Allowable Expenses 5% 5,670
Employers N.I. on salary 0
Salary 8,000
Legitimate section 98 expenses 3,000
Pension contributions 0
Total expenditure 16,670
Net Result (Effective Income) 96,739
Additional Employers NI Due 19th April 11,731
Deemed payment 85,008
Tax Calculations Taxable Income (salary + deemed payment) 93,008
Employees NI 0
PAYE 0
Additional Employers NI 11,731
Additional Employees NI 5,740
Additional PAYE 24,635
Extra tax payable on 19th April 42,106

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