OK - It's come time for me to run a payroll for my company but I'm a little confused by the way it works so can someone please help here... I'll use example figures
Let's say I get paid £1200 for a weeks work (odd number but it's the random one I chose for my figures and as the number changes I can substitute where necessary week by week).
Invoiced amount : £1200
£211.53 - PAYE - based on £11000 per year (tax and NI exempt)
£70 - Expenses (fuel)
Total take home : £281.53
£96.16 dividend allowance based on 52 weeks leaves £822.31
£57.57 tax @7% on dividend leaves £764.74
Total take home : £1046.27
Does this sound right to you guys? It's all a bit confusing but I'd rather use an online payroll system and do it myself than faff around with expensive accountants for what "should" be a simple process. If it is right is there a better way to do this?