Sample Payslip for Self-Employed
Sample Payslip for Self-Employed
Name: [Your Name]
Email: [Your Email]
Date: September 10, 2050
|
Description |
Amount ($) |
Tax Rate (%) |
Tax Deducted ($) |
Net Amount ($) |
|---|---|---|---|---|
|
Gross Income |
5,000.00 |
- |
- |
5,000.00 |
|
Business Expenses |
-1,000.00 |
- |
- |
-1,000.00 |
|
Net Income |
4,000.00 |
- |
- |
4,000.00 |
|
Income Tax |
4,000.00 |
20 |
800.00 |
3,200.00 |
|
National Insurance |
4,000.00 |
12 |
480.00 |
2,720.00 |
|
Pension Contribution |
4,000.00 |
5 |
200.00 |
2,520.00 |
|
Total Deductions |
- |
- |
1,480.00 |
- |
|
Total Net Income |
- |
- |
- |
2,520.00 |
Notes:
-
Gross Income reflects total income before any deductions.
-
Business Expenses include operational costs like materials, rent, and utilities.
-
Net Income is the amount after subtracting business expenses from gross income.
-
Income Tax is calculated at a rate of 20% on net income.
-
National Insurance is calculated at a rate of 12% of net income.
-
Pension Contribution is a voluntary deduction at 5% of net income.
-
Total Deductions include all the applicable taxes and contributions.
For any queries or concerns regarding this payslip, please contact us at [Your Company Email].
