Can someone check my calculations please? I’m using https://www.income-tax.co.uk/calculator/62500/
If, er, my friend gets £62,500 after tax in benefits, Is the break even point for working (assuming employers NI is not included) around £105,000 a year = 450 per day ?
The above site says it is, but I guess he would have to add a bit for the apprentice levy and umbrella fees?
Assuming Employers’ NI was paid by the employer (crazy, I know) then he would be looking at £93,000 annually?
If he wanted to make £20 an hour over benefits he’d need £800/day inside IR35?
If I’ve got this completely wrong, just tell me the right figures rather than droning on about how much cleverer you are than me.
TIA,
Huge
If, er, my friend gets £62,500 after tax in benefits, Is the break even point for working (assuming employers NI is not included) around £105,000 a year = 450 per day ?
The above site says it is, but I guess he would have to add a bit for the apprentice levy and umbrella fees?
Assuming Employers’ NI was paid by the employer (crazy, I know) then he would be looking at £93,000 annually?
If he wanted to make £20 an hour over benefits he’d need £800/day inside IR35?
If I’ve got this completely wrong, just tell me the right figures rather than droning on about how much cleverer you are than me.
TIA,
Huge
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