PAYE (on £8,000, Tax code 1257L, Fiscal Year 2024/2025)
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| Basic rate | 20% | 0 | £37,700 | £0 |
| Higher rate | 40% | £37,700 | £125,140 | £0 |
| Additional rate | 45% | £125,140 | - | £0 |
| Total Tax: | £0 |
Employees NI (on £8,000, Fiscal Year 2024/2025)
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| Primary threshold | 0% | 0 | £242 | 0 |
| rate below upper earnings limit | 8% | £242 | £967 | £0 |
| rate above upper earnings limit | 2% | £967 | - | £0 |
| Total Tax: | £0 |
Employers NI (on £8,000, Fiscal Year 2024/2025)
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| Secondary class 1 rate | 13.8% | £175 | - | £0 |
| Total Tax: | £0 |
IR35 Taxes (on Deemed Payment of £43,488, Fiscal Year 2024/2025)
| Additional Employers NI | £6,001 |
| Additional Employees NI | £3,040 |
| Additional Paye | £8,027 |
| Total Taxes payable in April | £17,068 |