I am trying to calculate how much bonus to pay an employee so that the net cost to the company is £1000.
Employers NI is 13.8% and Corporation Tax is 20%.
I can obviously work it out through trial & error:
Employers NI: £151.58
Total cost of bonus: £1,250
Less corpration tax relief: (£250)
Net cost to company: £1,000
Can anyone provide a formula for excel?