| No pension | £100 per month | Maximum pension | ||
|---|---|---|---|---|
| Revenue | £701,250 | £701,250 | £701,250 | |
| 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 | £11,451 | £12,651 | £61,451 | |
| Personal taxes | Employees NI | £0 | £0 | £0 |
| Paye | £1,600 | £1,600 | £1,600 | |
| Dividend taxes | £191,881 | £191,526 | £177,124 | |
| Total | £30,531 | £30,477 | £28,260 | |
| Net annual income | £331,868 | £331,322 | £309,124 | |
| Net monthly income | £27,655 | £27,610 | £25,760 | |
| Your maximum allowed pension contribution is £50,000 per annum. | ||||
Free Pension Consultation Request
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We use chosen partners to provide specialist advice for contractors and have been helping contractors since 1999.