PAYE (on £8,000, Tax code 1257L, Fiscal Year 2022/2023)
Band | Rate | Lower Limit | Upper Limit | Tax |
---|---|---|---|---|
Basic rate | 20% | 0 | £37,700 | £0 |
Higher rate | 40% | £37,700 | £150,000 | £0 |
Additional rate | 45% | £150,000 | - | £0 |
Total Tax: | £0 |
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 |
Corporation Tax (on £73,909, Fiscal Year 2022/2023)
Band | Rate | Lower Limit | Upper Limit | Tax |
---|---|---|---|---|
Main rate | 19% | 0 | - | £14,042 |
Total Tax: | £14,042 |
Dividend Payment (First Shareholder, Fiscal Year 2022/2023)
Salary | £8,000 |
Net Dividend | £59,866 |
Grossed up dividend (pre 2016/2017) | N/A |
Tax code | 1257L |
Taxable income (taxable dividends + salary - allowance) | £55,296 |
Amount subject to tax | £53,296 |
Dividend tax | £9,062 |
Band | Rate | Lower Limit | Upper Limit | Tax |
---|---|---|---|---|
basic rate | 8.75% | 0 | £37,700 | £3,123 |
higher rate | 33.75% | £37,700 | £150,000 | £5,938 |
additional rate | 39.35% | £150,000 | - | £0 |
Total Tax: | £9,062 |