Take home pay estimates

[bigmaz]

I should also say that all accountants work with the same data. To get "quotes" from them in terms of take home and then picking the highest number is not how it works. Or it shouldn't be. However, salary levels, share splits etc have a huge bearing but these are for you to decide, acting on accountants' advice perhaps, but certainly not for the accountant to arbitrarily decide for you.

yeah, I realise that its going to be the same answer with the figures I give them. I was more asking how much they charge for their accountancy fees, and then asked them to calculate the take home pay out of curiosity. The 1st 2 added on expenses that I didnt ask to be included. The 3rd was the more accurate figure.

[bigmaz]

yeah, I realise that its going to be the same answer with the figures I give them. I was more asking how much they charge for their accountancy fees, and then asked them to calculate the take home pay out of curiosity. The 1st 2 added on expenses that I didnt ask to be included. The 3rd was the more accurate figure.

Thanks for the PM reply, tried to reply but inbox is full again

[Alan @ BroomeAffinity]

Got it.

[PurpleGorilla]

75% off the +VAT turnover is a reasonable estimate...

[Alan @ BroomeAffinity]

75% off the +VAT turnover is a reasonable estimate...

It's a fairly easy process to get it exact if you want to smooth it over a year. I'll put our spreadsheet on the website soon for anyone who's interested but if you want it sooner on me your email.

[SpontaneousOrder]

75% off the +VAT turnover is a reasonable estimate...

That's what mine comes out at after a full year of work (with 5 or 6 weeks off). Day rate (without VAT) * 0.75. That's including mileage as 'take home' as I'm working localish and would have to pay that anyway as a permie. No pension.

[Dan@OrangeGenie]

Take home pay seems to be one of the most popular questions asked by a contractor.

In all my initial correspondence I try to outline a simple take home expectation, usually with a simple calculation. That way my contractors expectations are set at the right level from day one.

If you have a decent day rate, maximum dividend quota available and can take advantage of Entrepreneurs relief, then you will be looking at the higher end for take home levels over your company life.

Any good contractor accountant should be able to estimate this for you from day one.