Hi, I tried finding an online calculator for this but nothing specific to my question, so here goes.
I work through my LTD and finished my last contract in Dec, I've withdrawn enough from my company this year to make me a high rate tax payer.
Considering a contract via an umbrella from now till April (or possibly beyond.)
Question is, am I correct in assuming that I will be paying roughly (and at least) 52% (40% + 12.5% NI) of the contract value till April in taxes and NI ? So will be left with 48% ?
appreciate if anyone can shed some light on this. many thanks.
I work through my LTD and finished my last contract in Dec, I've withdrawn enough from my company this year to make me a high rate tax payer.
Considering a contract via an umbrella from now till April (or possibly beyond.)
Question is, am I correct in assuming that I will be paying roughly (and at least) 52% (40% + 12.5% NI) of the contract value till April in taxes and NI ? So will be left with 48% ?
appreciate if anyone can shed some light on this. many thanks.
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