that I'd paid myself. I have a Ltd company can I use one of the PAYE tax calcs on the web?
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How much income tax would I pay on £60K
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Originally posted by roadster198 View Postcan I use one of the PAYE tax calcs on the web?
Insufficient information suuplied, I'm afraid. There's only one set of tax laws, so if you're talking about straight salary then yes. If you have some dividend payments in there, or have included expenses aas income, then it gets a little more tricky.Blog? What blog...? -
Is that as a salary? Is that your only income for the whole year?
If yes to both of these then yeah you can just use a simple PAYE calculator that are all over the web.It's about time I changed this sig...Comment
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Originally posted by malvolio View PostLet me guess - you don't have an accountant...
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Originally posted by roadster198 View PostI pay my self Dividends every quarter which are a total of £60K. My salary is £5,550.Comment
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Originally posted by roadster198 View PostI pay my self Dividends every quarter which are a total of £60K. My salary is £5,550.
But off the top of my head:
Salary 5,550
Gross divi 66,667
Total 72,217
Less 40,000 (lower rate/nil rate which is satisifed bt the PAYE).
32,217. 25% of that is due to be paid, so there is an additional 8100 to pay. If you get a number wildly different then one of us will be wrong.Comment
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Originally posted by roadster198 View PostGross
If so, I'm sure you can rework the estimate.Comment
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