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How does it work?
How we do the calculation:
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Without |
With |
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Expenses |
Expenses |
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|
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|
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|
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40hrs at £12.00 per hour |
£480.00 |
£480.00 |
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|
|
|
|
Less company |
Management Fee |
-£12.50 |
-£12.50 |
|
expenses |
Reserved for holiday pay (10%) |
-£48.00 |
-£48.00 |
|
|
Expenses (average) |
£0.00 |
-£96.00 |
|
|
Employer NIC |
-£40.90 |
-£28.61 |
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|
|
|
|
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Gross Pay |
|
£378.60 |
£294.89 |
|
Minus Tax & NI |
PAYE |
£64.81 |
£43.69 |
|
|
Employee NIC |
£35.14 |
£24.58 |
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|
|
|
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Net Pay |
|
£278.65 |
£226.62 |
|
|
Expenses reimbursed |
£0.00 |
£96.00 |
|
Take home |
|
£278.65 |
£322.62 |
In the above example the PAYE and NIC liability would be reduced by £43.97
For a more accurate price comparison, why not give us a call with your weekly gross pay or hourly rate and normal hours worked along with how much you would normally claim in expenses per week and we will give you a quote over the phone.
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Contact Details
Address :
96a High Road
Beeston
Nottingham
NG9 2LF
Tel : 0115 922 8600
Fax : 0115 922 8222
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