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 £87,307, Fiscal Year 2022/2023)
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| Main rate | 19% | 0 | - | £16,588 |
| Total Tax: | £16,588 |
Dividend Payment (First Shareholder, Fiscal Year 2022/2023)
| Salary | £8,000 |
| Net Dividend | £70,718 |
| Grossed up dividend (pre 2016/2017) | N/A |
| Tax code | 1257L |
| Taxable income (taxable dividends + salary - allowance) | £66,148 |
| Amount subject to tax | £64,148 |
| Dividend tax | £12,725 |
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| basic rate | 8.75% | 0 | £37,700 | £3,123 |
| higher rate | 33.75% | £37,700 | £150,000 | £9,601 |
| additional rate | 39.35% | £150,000 | - | £0 |
| Total Tax: | £12,725 |