Hi everyone new to the site.....
I have been contracting for a few years but always been within an umbrella or within IR35, but as from this week I have a new contract for 12 months outside IR35, I do have an accountant but its like getting blood from a stone on advice.
The day rate is £700 per day and I'm wondering what to pay myself monthly and my wife is possible, I'm not keen on this pay very little and pay no tax because of my lifestyle and being used top bringing in around 7k per month inside IR35, My thoughts are if I'm bringing in approx. 15k per month I would have thought I could pay may self a lot more but I've read all sorts and cant seem to come to a decision.
I am Ltd with a business account.
Any advice please?
Thanks Lee
I have been contracting for a few years but always been within an umbrella or within IR35, but as from this week I have a new contract for 12 months outside IR35, I do have an accountant but its like getting blood from a stone on advice.
The day rate is £700 per day and I'm wondering what to pay myself monthly and my wife is possible, I'm not keen on this pay very little and pay no tax because of my lifestyle and being used top bringing in around 7k per month inside IR35, My thoughts are if I'm bringing in approx. 15k per month I would have thought I could pay may self a lot more but I've read all sorts and cant seem to come to a decision.
I am Ltd with a business account.
Any advice please?
Thanks Lee
