Shield for Contractors

The UK's leading contractor site. 200,000 average monthly visitors.

Taxes

PAYE (on £8,000, Tax code 1257L, Fiscal Year 2021/2022)

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 2021/2022)

Band Rate Lower Limit Upper Limit Tax
Primary threshold 0% 0 £184 0
rate below upper earnings limit 12% £184 £967 £0
rate above upper earnings limit 2% £967 - £0
      Total Tax: £0

Employers NI (on £8,000, Fiscal Year 2021/2022)

Band Rate Lower Limit Upper Limit Tax
Secondary class 1 rate 13.8% £170 - £0
      Total Tax: £0

IR35 Taxes (on Deemed Payment of £72,978, Fiscal Year 2021/2022)

Additional Employers NI 10,071
Additional Employees NI 5,499
Additional Paye 19,823
Total Taxes payable in April 35,394