Nixon Williams

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

Company Calculations - Inside IR35

Your Details

Your Details Rate 67
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 61,833
Net Monthly Income 5,152
Company Income Contract revenue 111,760
Other income 0
Total revenue 111,760
Company Expenditure Allowable Expenses 5% 5,588
Employers N.I. on salary 0
Salary 8,000
Legitimate section 98 expenses 3,000
Pension contributions 0
Total expenditure 16,588
Net Result (Effective Income) 95,172
Additional Employers NI Due 19th April 11,541
Deemed payment 83,630
Tax Calculations Taxable Income (salary + deemed payment) 91,630
Employees NI 0
PAYE 0
Additional Employers NI 11,541
Additional Employees NI 5,712
Additional PAYE 24,084
Extra tax payable on 19th April 41,338

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