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Company Calculations - Inside IR35

Your Details

Your Details Rate £53
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 1250L
Personal Income Net Annual Income £50,132
Net Monthly Income £4,177
Company Income Contract revenue £87,912
Other income £0
Total revenue £87,912
Company Expenditure Allowable Expenses 5% £4,395
Employers N.I. on salary £0
Salary £8,000
Legitimate section 98 expenses £3,000
Pension contributions £0
Total expenditure £15,395
Net Result (Effective Income) £72,516
Additional Employers NI Due 19th April £8,793
Deemed payment £63,722
Tax Calculations Taxable Income (salary + deemed payment) £71,722
Employees NI £0
PAYE £0
Additional Employers NI £8,793
Additional Employees NI £5,401
Additional PAYE £16,189
Extra tax payable on 19th April £30,383

Other relevant information:

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