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Company Calculations - Inside IR35

Your Details

Your Details Rate £460
Rate Type Daily
Hours per week
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 £56,566
Net Monthly Income £4,713
Company Income Contract revenue £101,200
Other income £0
Total revenue £101,200
Company Expenditure Allowable Expenses 5% £5,060
Employers N.I. on salary £0
Salary £8,000
Legitimate section 98 expenses £3,000
Pension contributions £0
Total expenditure £16,060
Net Result (Effective Income) £85,140
Additional Employers NI Due 19th April £10,324
Deemed payment £74,815
Tax Calculations Taxable Income (salary + deemed payment) £82,815
Employees NI £0
PAYE £0
Additional Employers NI £10,324
Additional Employees NI £5,622
Additional PAYE £20,626
Extra tax payable on 19th April £36,573

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