Shield for Contractors

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Company Calculations - Inside IR35

Your Details

Your Details Rate 72
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 65,828
Net Monthly Income 5,485
Company Income Contract revenue 120,010
Other income 0
Total revenue 120,010
Company Expenditure Allowable Expenses 5% 6,000
Employers N.I. on salary 0
Salary 8,000
Legitimate section 98 expenses 3,000
Pension contributions 0
Total expenditure 17,000
Net Result (Effective Income) 103,009
Additional Employers NI Due 19th April 12,491
Deemed payment 90,518
Tax Calculations Taxable Income (salary + deemed payment) 98,518
Employees NI 0
PAYE 0
Additional Employers NI 12,491
Additional Employees NI 5,850
Additional PAYE 26,839
Extra tax payable on 19th April 45,181

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