Quote:
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Originally Posted by delsvan
Calculation Result
Income before Tax £2100
Expenses £1000
Tax £252
Income after Tax £1848
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Ok but your actual expenses might be train fares, petrol, IT equipment etc. So for the most part your expenses is money you spent for a service. But with mine I pay tax on 20,000 a year with no claim on the petrol (130 per month 12x130=1,560.
Calculation Result (monthly)
Income Before Tax - 5,000
Expenses (not claimed) - 160
Tax (9% account management charge) - 730
Income After - 4,110
So in summary no recipts to keep, no accounts to manage (self employed), no accountancy fees, no IR35 and overall no hassels as this firm deals with the agency directly.