Nixon Williams

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

Company Calculations - Inside IR35

Your Details

Your Details Rate 75
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 67,307
Net Monthly Income 5,608
Company Income Contract revenue 123,750
Other income 0
Total revenue 123,750
Company Expenditure Allowable Expenses 5% 6,187
Employers N.I. on salary 0
Salary 8,000
Legitimate section 98 expenses 3,000
Pension contributions 0
Total expenditure 17,187
Net Result (Effective Income) 106,562
Additional Employers NI Due 19th April 12,922
Deemed payment 93,640
Tax Calculations Taxable Income (salary + deemed payment) 101,640
Employees NI 0
PAYE 0
Additional Employers NI 12,922
Additional Employees NI 5,913
Additional PAYE 28,420
Extra tax payable on 19th April 47,255

Other relevant information:

Show tax calculations