Shield for Business

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

Company Calculations - Inside IR35

Your Details

Your Details Rate 70
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 63,644
Net Monthly Income 5,303
Company Income Contract revenue 115,500
Other income 0
Total revenue 115,500
Company Expenditure Allowable Expenses 5% 5,775
Employers N.I. on salary 0
Salary 8,000
Legitimate section 98 expenses 3,000
Pension contributions 0
Total expenditure 16,775
Net Result (Effective Income) 98,725
Additional Employers NI Due 19th April 11,971
Deemed payment 86,753
Tax Calculations Taxable Income (salary + deemed payment) 94,753
Employees NI 0
PAYE 0
Additional Employers NI 11,971
Additional Employees NI 5,775
Additional PAYE 25,333
Extra tax payable on 19th April 43,080

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