| 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 | £30,250 | |
| Employers NI | £0 | £0 | £0 | |
| Total | £11,000 | £12,200 | £41,250 | |
| Personal taxes | Employees NI | £0 | £0 | £0 |
| Paye | £0 | £0 | £0 | |
| Dividend taxes | £1,700 | £1,615 | £0 | |
| Total | £620 | £594 | £0 | |
| Net annual income | £30,802 | £29,915 | £8,000 | |
| Net monthly income | £2,566 | £2,492 | £666 | |
| 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.