SG Accounting

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Company Calculations - Inside IR35

Your Details

Your Details Rate 425
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 320,519
Net Monthly Income 26,709
Company Income Contract revenue 701,250
Other income 0
Total revenue 701,250
Company Expenditure Allowable Expenses 5% 35,062
Employers N.I. on salary 0
Salary 8,000
Legitimate section 98 expenses 3,000
Pension contributions 0
Total expenditure 46,062
Net Result (Effective Income) 655,187
Additional Employers NI Due 19th April 79,451
Deemed payment 575,735
Tax Calculations Taxable Income (salary + deemed payment) 583,735
Employees NI 0
PAYE 0
Additional Employers NI 79,451
Additional Employees NI 15,535
Additional PAYE 247,681
Extra tax payable on 19th April 342,667

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