Hi All,
Has a question.
If a LIMITED Company (VAT registered) getting some job done by a Self employer contractor. Should the company pay VAT 20%.
And again the self employed have to pay 20% PAYE+NI?
Cost to Company : 12000 + 2400 (VAT) = 14500?
Cost to Self Emplyed: If the employes total income is less than 38K.
Paye: 12000 * 20% = 2400
NI: 500 (aproximately)
Total: 2900
Total Expenses: 2400+2900 = 5400? Nearly 45% of total jobs cost?
Please suggest me if my above calculatins are correct?
Regards
Gmans
Has a question.
If a LIMITED Company (VAT registered) getting some job done by a Self employer contractor. Should the company pay VAT 20%.
And again the self employed have to pay 20% PAYE+NI?
Cost to Company : 12000 + 2400 (VAT) = 14500?
Cost to Self Emplyed: If the employes total income is less than 38K.
Paye: 12000 * 20% = 2400
NI: 500 (aproximately)
Total: 2900
Total Expenses: 2400+2900 = 5400? Nearly 45% of total jobs cost?
Please suggest me if my above calculatins are correct?
Regards
Gmans
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