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 £12,500
to £12,410.
PAYE (on £0, Tax code 1241L, Fiscal Year 2019/2020)
| Band |
Rate |
Lower Limit |
Upper Limit |
Tax |
| Basic rate |
20% |
0 |
£37,500 |
£0 |
| Higher rate |
40% |
£37,500 |
£150,000 |
£0 |
| Additional rate |
45% |
£150,000 |
- |
£0 |
| |
|
|
Total Tax: |
£0 |
Employees NI (on £0, Fiscal Year 2019/2020)
| Band |
Rate |
Lower Limit |
Upper Limit |
Tax |
| Primary threshold |
0% |
0 |
£166 |
0 |
| rate below upper earnings limit |
12% |
£166 |
£962 |
£0 |
| rate above upper earnings limit |
2% |
£962 |
- |
£0 |
| |
|
|
Total Tax: |
£0 |
Employers NI (on £0, Fiscal Year 2019/2020)
| Band |
Rate |
Lower Limit |
Upper Limit |
Tax |
| Secondary class 1 rate |
13.8% |
£166 |
- |
£0 |
| |
|
|
Total Tax: |
£0 |
IR35 Taxes (on Deemed Payment of £100,175, Fiscal Year 2019/2020)
| Additional Employers NI |
13,824 |
| Additional Employees NI |
5,970 |
| Additional Paye |
27,606 |
| Total Taxes payable in April |
47,400 |