| 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 | £189,548 | £189,194 | £174,792 | |
| Total | £30,337 | £30,282 | £28,066 | |
| Net annual income | £334,200 | £333,654 | £311,457 | |
| Net monthly income | £27,850 | £27,804 | £25,954 | |
| 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.