Own LTD. Sharing 6 months of experience

[dude69]

As some of you I was working under Giant umbrella until Labours decided they need more cash to fund their mega-project to bringing the country into havoc.

Is that you Vlad?

[gadgetman]

I am on the same rate (550) and I take home around £8500. That's made up of salary, expenses and divi's. I have quite high expenses (travel to London, Oyster card) of around 700 / month plus the usual accounts, mobile etc.

I'm allocating just over a grand a month for higher rate tax, averaged over the year. If I take this into account and work on 7500 net then I get 68%. How are people achieving closer to 80%?

I assume these percentages are based on true net i.e. after accounting for higher rate tax rather than on pure take home if I do it on take home the figure is around 81%.

[tuca]

I am on the same rate (550) and I take home around £8500. That's made up of salary, expenses and divi's. I have quite high expenses (travel to London, Oyster card) of around 700 / month plus the usual accounts, mobile etc.

I'm allocating just over a grand a month for higher rate tax, averaged over the year. If I take this into account and work on 7500 net then I get 68%. How are people achieving closer to 80%?

I assume these percentages are based on true net i.e. after accounting for higher rate tax rather than on pure take home if I do it on take home the figure is around 81%.

Based on my calculations ( more or less on same rate ) I come to same conclusions. I'd say on Invoiced I end up paying between 32-34% Tax.
Still not bad , I guess with a PAYE Umbrella I'd have to add all the NI contributions I save with Dividends ?