Note: From the 2010-11 tax year the Personal Allowance reduces where the income is above £100,000 – by £1 for every £2 of income above the £100,000 limit. Because your income is above £100,000 your tax allowance has been reduced from £12,570 to £0.
PAYE (on £8,000, Tax code 0L, Fiscal Year 2022/2023)
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| Basic rate | 20% | 0 | £37,700 | £1,600 |
| Higher rate | 40% | £37,700 | £150,000 | £0 |
| Additional rate | 45% | £150,000 | - | £0 |
| Total Tax: | £1,600 |
Employees NI (on £8,000, Fiscal Year 2022/2023)
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| Primary threshold | 0% | 0 | £190 | 0 |
| rate below upper earnings limit | 13.25% | £190 | £967 | £0 |
| rate above upper earnings limit | 3.25% | £967 | - | £0 |
| Total Tax: | £0 |
Employers NI (on £8,000, Fiscal Year 2022/2023)
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| Secondary class 1 rate | 15.05% | £175 | - | £0 |
| Total Tax: | £0 |
IR35 Taxes (on Deemed Payment of £117,746, Fiscal Year 2022/2023)
| Additional Employers NI | £17,720 |
| Additional Employees NI | £7,806 |
| Additional Paye | £42,758 |
| Total Taxes payable in April | £68,285 |