Shield for Business

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Company Calculations - Inside IR35

Your Details

Your Details Rate 60
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 55,655
Net Monthly Income 4,637
Company Income Contract revenue 99,000
Other income 0
Total revenue 99,000
Company Expenditure Allowable Expenses 5% 4,950
Employers N.I. on salary 0
Salary 8,000
Legitimate section 98 expenses 3,000
Pension contributions 0
Total expenditure 15,950
Net Result (Effective Income) 83,050
Additional Employers NI Due 19th April 10,071
Deemed payment 72,978
Tax Calculations Taxable Income (salary + deemed payment) 80,978
Employees NI 0
PAYE 0
Additional Employers NI 10,071
Additional Employees NI 5,499
Additional PAYE 19,823
Extra tax payable on 19th April 35,394

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