Percentage Take Home

[Tarquin Farquhar]

Never used to calculate that, just take home (inc expenses) as a percentage of gross.

What is the point in that? Expenses are not part of take-home, because you don't take them home, surely?

I mean, if I billed 6000 in a month, but had expenses of 3000 and tax etc of 1000, I would have 2000 left to take home in my pocket. What is the point of calculating a supposed "take-home" of 5000 if 3000 of that is not money that I can spend as I like, but rather is money already paid to airlines, hotels, etc?

[Fred Bloggs]

They can provide quality, proactive tax advice. Most contractor accountants don't do this, regardless of what they say...

+1

[ASB]

What is the point in that? Expenses are not part of take-home, because you don't take them home, surely?

I mean, if I billed 6000 in a month, but had expenses of 3000 and tax etc of 1000, I would have 2000 left to take home in my pocket. What is the point of calculating a supposed "take-home" of 5000 if 3000 of that is not money that I can spend as I like, but rather is money already paid to airlines, hotels, etc?

Exactly.

[VectraMan]

They can provide quality, proactive tax advice. Most contractor accountants don't do this, regardless of what they say...

All the proactive quality advice in the world doesn't change the tax rates as set by HM Government.

And there's no single answer to % of take home pay because it depends on how much you earn.

[joey122]

And there's no single answer to % of take home pay because it depends on how much you earn.

Thats why we talk about PERCENTAGES

[MPwannadecentincome]

Thats why we talk about PERCENTAGES

There is still no single answer as the %ages vary according to how much you earn too - presumably you have heard of higher rate tax?

[Sally BFCA]

We have a calculator spreadsheet that you can tailor make to your personal income and expenditure. It will then give you your net % rate.

Please feel free to download it. It's called Limited V Umbrella on our home page.