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 |