Your results
- First salary: Salary = £50,000
- Annual NI = £4,964
- Annual PAYE = £7,500
- Annual net income = £37,535
- Monthly net income = £3,127
- Second salary: Salary = £51,000
- Annual NI = £4,986
- Annual PAYE = £7,900
- Annual net income = £38,113
- Monthly net income = £3,176
- Difference in salaries is £1,000 (2% increase).
- Difference in net monthly income is £48 (1.54% increase).
Solutions for Contractors:
Check your IR35 Status for FREE
Use IR35 Shield to check your status NOW!