| 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 | £0 | £0 | £0 | |
| Total | £11,000 | £12,200 | £61,000 | |
| Personal taxes | Employees NI | £0 | £0 | £0 |
| Paye | £1,600 | £1,600 | £1,600 | |
| Dividend taxes | £189,681 | £189,327 | £174,925 | |
| Total | £30,320 | £30,265 | £28,048 | |
| Net annual income | £334,406 | £333,860 | £311,662 | |
| Net monthly income | £27,867 | £27,821 | £25,971 | |
| 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.