Take-home / net pay

[LegendsWear7]

Hi.

What % do you guys typically net ? Does it vary ?

.... I've been out of the UK for 9 years so I'm fairly out of the loop re: Ltd stuff and all that. I ran a Ltd in the mid-90s.

I have two interviews next week in London at 450/day and circa 500/day for long-term Windows contracts. These are not coding and will be on-site at the client. 1 will be under supervision (I expect) and the higher-paying would be more objective-oriented. I suspect the first and maybe the 2nd would fall foul of ir35 (spit).

I know quite precisely when my net income is in Germany but I just can't figure out what I would net in UK. I don't have much faith in these online calcs: when you dig deeper they seem to talk about 'in the best case scenario' / with over-the-top expenses.

I've heard the net could be as low as 50% or as good as 80% (using Isle of Man 'schemes' or a taper-relief method (takes years to deliver ??)).

I know there are recommended accountants on here but I'd like to hear the truth from other contractors before getting the hard-sell.

I'd like to return to UK but I won't if I have to pay 50% funding G Brown's ambitions and experiments. I'd be looking for about 25% hit or less. Never imagined I'd be part of the brain drain

I'm curious how suppliers like yourselves offering (to the layman) quite similar services working through the same type of Ltd. vehicle suffer such a disparity in tax burden. I didn't think dividends are dodgy at all but maybe sensible to not take the pee.


LW7

[unemployed]

Hi.

What % do you guys typically net ? Does it vary ?

.... I've been out of the UK for 9 years so I'm fairly out of the loop re: Ltd stuff and all that. I ran a Ltd in the mid-90s.

I have two interviews next week in London at 450/day and circa 500/day for long-term Windows contracts. These are not coding and will be on-site at the client. 1 will be under supervision (I expect) and the higher-paying would be more objective-oriented. I suspect the first and maybe the 2nd would fall foul of ir35 (spit).

I know quite precisely when my net income is in Germany but I just can't figure out what I would net in UK. I don't have much faith in these online calcs: when you dig deeper they seem to talk about 'in the best case scenario' / with over-the-top expenses.

I've heard the net could be as low as 50% or as good as 80% (using Isle of Man 'schemes' or a taper-relief method (takes years to deliver ??)).

I know there are recommended accountants on here but I'd like to hear the truth from other contractors before getting the hard-sell.

I'd like to return to UK but I won't if I have to pay 50% funding G Brown's ambitions and experiments.




LW7

500 a day for windows ????? what are you doing

[Euro-commuter]

Hi.

What % do you guys typically net ? Does it vary ?
...
I have two interviews next week in London at 450/day and circa 500/day
...
I know quite precisely when my net income is in Germany but I just can't figure out what I would net in UK. I don't have much faith in these online calcs: when you dig deeper they seem to talk about 'in the best case scenario' / with over-the-top expenses.

I've heard the net could be as low as 50% or as good as 80% (using Isle of Man 'schemes' or a taper-relief method (takes years to deliver ??)).
...
I'd like to return to UK but I won't if I have to pay 50% funding G Brown's ambitions and experiments.

I make about that, and net about 60%. I don't take dividends or do any other dodgy stuff, so that's about an IR35 figure.

Agree with you about online calcs: they assume a lot about what you must be prepared to do, to make their product look good.

I have looked at a contract in Germany but it seems to me that I'd keep less there, when all compulsory contributions are taken into account. Am I being pessimistic there?

[Tool]

Hi,

I do some "dodgy" stuff (ie. dividends) with my ltd, and I take home about 85%.

AFAIK, the best way to save on taxes is the following:
- register to VAT and flat rate scheme, so you can do some extra quids
- pay yourself a low salary to fill up your personnal allowance
- pay yourself dividends to fill up your BR threshold (actually tax-free)
- leave anything left in the company
- after at least 2 years trading, wind up the company; any money left in the company is distributed to shareholders and is considered capital gain (you need to get a small paper from HMRC for that, though); full business taper relief applies (CGT is calculated on 25% of the extracted money).

This is all explained in a report from SJD; just visit their website: http://www.sjdaccountancy.com/about/...d_bespoke.html

Essentially, you only pay CT.

Now, if you are really dodgy, make your wife/partner a shareholder of the company and pay her dividends.

[MarillionFan]

"I do some "dodgy" stuff (ie. dividends) with my ltd, and I take home about 85%."

Thats the ticket. Make Gordon think you're a smuggler.

[LegendsWear7]

500 a day for windows ????? what are you doing

Worked my arse off plus worked smart. But not smart like the SAP guys

The annoying thing about Windows is that the ceiling as far as I know is around the 600 mark no matter how good you are. And you won't find long-term stuff at that rate.

[breakz187]

I know of Exchange guys earning £800 a day.

[spoons]

Have they got any roles going there