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 £7,670.
PAYE (on £0, Tax code 767L, 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 |
Corporation Tax (on £135,369, Fiscal Year 2019/2020)
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| Main rate | 19% | 0 | - | £25,720 |
| Total Tax: | £25,720 |
Dividend Payment (First Shareholder, Fiscal Year 2019/2020)
| Salary | £0 |
| Net Dividend | £109,648 |
| Grossed up dividend (pre 2016/2017) | N/A |
| Tax code | 1250L |
| Tax code (recalculated) | 767L |
| Taxable income (taxable dividends + salary - allowance) | £101,978 |
| Amount subject to tax | £99,978 |
| Dividend tax | £23,618 |
| Band | Rate | Lower Limit | Upper Limit | Tax |
|---|---|---|---|---|
| basic rate | 7.5% | 0 | £37,500 | £2,662 |
| higher rate | 32.5% | £37,500 | £150,000 | £20,955 |
| additional rate | 38.1% | £150,000 | - | £0 |
| Total Tax: | £23,618 |
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 £7,670.