Calculator © - Free Online Calculators

Online Calculators since 2009

- Forex Leverage Calculator
- Residual Value Calculator
- Units of Production Depreciation Calculator
- VL3 Salary Sacrifice Calculator
- Adding Machine Calculator
- Adjusted Present Value Calculator
- Modified Internal Rate Of Return Calculator
- Annual Salary Sacrifice Calculator
- Finance calculators
- Accounting Rate of Return Calculator
- Absolute Change Calculator

This calculator is designed for contractors and company directors who earn 35000.00 per year to assess the optimal breakdown of tax calculations to understand the best approach to their payroll solution. The calculator will balance Personal Allowance, Dividend Allowance and other tax metrics to provide a breakdown of tax and payroll deductions and your associated take home income from your gross sales of 35000.00.

Move the slider from left [More income as PAYE Salary] to right [More income as a Dividend] to find the best mathematical split of your income to minimise your tax and payroll commitments within HMRC legislation

Add this calculator to your website

With the introduction of new dividend calculations introduced by HMRC in 2016 via Thresholds and rates (similar to PAYE), dividends have become less attractive but still provide a more tax efficient solution than exclusive PAYE income which attracts National Insurance Contributions (NICs), Employers NICs mandatory company pension payments (if you are opted in to your company pension scheme).

PAYE is deducted before Corporation Tax (payroll is an operational expense) so there are slightly different calculations that you need to consider to make an informed decision as to which is the best tax solution for your total income (or sales generated - important semantics!). The Combined PAYE and Dividend Calculator does just that using the key elements to allow an informed decision. Note that this tool is a simplified version of the 2020 Holistic PAYE and Tax Calculator which allows you to refine your tax details and produce diverse reports / outputs.

Note that this calculator assumes you are an individual looking to calculate the most efficient tax solution. If you run a small company and are married etc. you may elect to make your partner a business partner, as a company director they can also be paid a salary and/or dividends depending on the nature of the company setup. Note that they must be actively involved in the day-to-day running of the company to legally warrant their income and you should be able to demonstrate this to HMRC if they query your accounts. If you are thinking of walking this route it is essential you get yourself a good accountant, have solid processes and company structure to underpin your accounting principals. There are plenty of good accountants around, if you prefer you can contact us and we can put you in touch with one of the accountants who contribute to the iCalculator project.

Next: 2020 Dividends Calculator

Previous: 2020 PAYE, Tax and Payroll Calculator

You may also find the following Finance calculators useful.

- Hourly Wage To Annual Salary Calculator
- Fixed Depreciation Calculator
- Debtor Days Calculator
- Credit Card Minimum Payment Calculator
- Average Stock Market Return Calculator
- Capitalization Rate Calculator
- Salary Sacrifice Calculator
- Average Payables Period Calculator
- Creditline Transfer Apr Calculator
- Adding Machine Calculator
- Depreciation Units Production Calculator
- Simple Annuity Calculator
- Timesheet Calculator
- Present Value Of A Future Sum Calculator
- Stamp Duty Calculator
- Accounts Received Turnover Rate Calculator
- Capital Gains Tax Calculator
- Savings Calculator
- Yield On Cost Calculator
- Mortgage Calculator