Single Person as Employee £45,000 pa
Employers NICs | 4,961 |
|
|
Salary | 45,000 |
|
|
PAYE @ 0% on 4,335 | 0 |
PAYE @ 10% on 1,500 | 150 |
PAYE @ 23% on 26,500 | 6,095 |
PAYE @ 40% on 12,665 | 5,066 |
Employees NICs on 26,000 | 2,600 |
|
|
Corporation Tax | 0 |
|
|
Total Tax and NI | 18,872 |
|
|
After Tax Income | 31,089 |
Single Person as Limited Company £49,961 pa
Fee Income | 49,961 |
|
|
Employers NICs | 0 |
|
|
Salary | 4,344 |
Employees NICs | 91 |
PAYE | 0 |
|
|
Corporation Tax @ 20% on 45526 | 9,113 |
|
|
Marginal PAYE @ 10% on 1,500 | (150) |
Marginal PAYE @ 23% on 26,500 | 780 |
Marginal PAYE @ 40% on 18,876 | 3775 |
|
|
Total Tax and NI | 13,510 |
|
|
After Tax Income | 36,415 |
Net Lost Income to Contractor | (5,362) |
Net PAYE loss to Inland Revenue | (2,199) |
Net NICs gain to DSS | 7,470 |