tax free salary- how much before tax?

[juniorCon]

hi people..

just a quick question.. I have been made an offer by a client for a fixed term contract based on annual salary. my question how much is a 40K annual salary after-tax before tax in the UK? i.e. how would I need to earn in the uk to get 40K after tax.

any feedback/advice/comments would be most appreciated.

[Ivor1]

£60k gross is £42k take home, £40k gross is equal to £28k take home. 30% is general total deduction as a PERMY a month as a higher rate tax payer.

[Borat]

Job sites?

Hiya,

Is this your first contract?

I'm thinking of going it alone (sick of making money for somebody else), can you recommend any decent jobsites, there seem to be about a million of them out there and its tough to know who the cowboys are?

Cheers

[Pondlife]

Brace yourself

[Cowboy Bob]

hi people..

just a quick question.. I have been made an offer by a client for a fixed term contract based on annual salary. my question how much is a 40K annual salary after-tax before tax in the UK? i.e. how would I need to earn in the uk to get 40K after tax.

any feedback/advice/comments would be most appreciated.

Bear in mind that a "fixed term" contract, if you are using the term correctly, is automatically IR35 caught meaning you could possibly pay more tax than if you were a permie depending on how you are set-up.

[ratewhore]

Find a PAYE calculator, there's plenty around. And bear in mind cowboy bobs words...

[Mustang]

Bear in mind that a "fixed term" contract, if you are using the term correctly, is automatically IR35 caught meaning you could possibly pay more tax than if you were a permie depending on how you are set-up.

Why is it automatically inside IR35? Does it automatically break all of the "7 silver bullets"? I am not sure I follow the logic.....of course it could just be friday after a tiring week and I am looking forward to the weekend too much!

[Cowboy Bob]

Why is it automatically inside IR35? Does it automatically break all of the "7 silver bullets"? I am not sure I follow the logic.....of course it could just be friday after a tiring week and I am looking forward to the weekend too much!

Assuming the OP meant "Fixed Term" as it is defined by the government...

http://www.dti.gov.uk/er/fixed/fixed-pl512a.htm

[Mustang]

Now I have read the definition of "fixed term" on the DTI website I can see why IR35 would apply but I am nervous too. I will go back and re-read it but doesn't their definition mean that all contracts are 'fixed term'?

[Denny]

I would think all fixed term contracts are within IR35 because, by definition, you are employed by the end-client for the duration of the contract enjoying the same benefits to boot.