| No pension | £100 per month | Maximum pension | ||
|---|---|---|---|---|
| Revenue | £101,860 | £101,860 | £101,860 | |
| Expenses | IR35 allowable expenses | £5,093 | £5,093 | £5,093 |
| Legitimate expenses | £3,000 | £3,000 | £3,000 | |
| Salary | £8,000 | £8,000 | £8,000 | |
| Pension contribution | £0 | £1,200 | £50,000 | |
| Employers NI | £451 | £451 | £451 | |
| Total | £16,544 | £17,744 | £66,544 | |
| Personal taxes | Employees NI | £0 | £0 | £0 |
| Paye | £0 | £0 | £0 | |
| Total | £2,961 | £2,912 | £1,031 | |
| Net annual income | £58,226 | £57,621 | £31,391 | |
| Net monthly income | £4,852 | £4,801 | £2,615 | |
| Your maximum allowed pension contribution is £50,000 per annum. | ||||
Free Pension Consultation Request
To arrange a free pension consultation from a specialist pensions expert please complete the form below
We use chosen partners to provide specialist advice for contractors and have been helping contractors since 1999.