| No pension | £100 per month | Maximum pension | ||
|---|---|---|---|---|
| Revenue | £41,250 | £41,250 | £41,250 | |
| Legitimate expenses | £3,000 | £3,000 | £3,000 | |
| Salary | £8,000 | £8,000 | £8,000 | |
| Pension contribution | £0 | £1,200 | £29,798 | |
| Employers NI | £451 | £451 | £451 | |
| Total | £11,451 | £12,651 | £41,250 | |
| Personal taxes | Employees NI | £0 | £0 | £0 |
| Paye | £0 | £0 | £0 | |
| Dividend taxes | £1,668 | £1,583 | £0 | |
| Total | £648 | £622 | £37 | |
| Net annual income | £30,468 | £29,581 | £8,000 | |
| Net monthly income | £2,539 | £2,465 | £666 | |
| Your maximum allowed pension contribution is £50,000 per annum. | ||||
Free Pension Consultation Request
Broadbench is a contractor specialist who will offer you an initial meeting to assess your situation and needs. They will then refer you to the correct Pension Adviser given your contracting status of either inside or outside of IR35.
Looking for an expert financial adviser?
To arrange a free pension consultation from a specialist pensions expert please complete the form below
Broadbench is a contractor specialist who will offer you an initial meeting to assess your situation and needs.
