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 | 1185L | |
Dividend percentage | 100% | |
Personal Income | Net Annual Income | £75,161 |
Net Monthly Income | £6,263 | |
Company Income | Contract revenue | £115,500 |
Other income | £0 | |
Total revenue | £115,500 | |
Company Expenditure | Expenses | £3,000 |
Employers N.I. on salary | £0 | |
Salary | £8,000 | |
Pension contributions | £0 | |
Total expenditure | £11,000 | |
Company profit | £104,500 | |
Corporation tax | £19,855 | |
Distributed profits | £84,645 | |
Tax Calculations | Taxable Income (salary + net dividend) | £92,645 |
Employees NI | £0 | |
PAYE | £0 | |
Additional tax on dividends (1st share) | £17,483 | |
Additional tax on dividends (2nd share) | N/A |