Just done a quick spreadsheet. My going rate is about 550 Euros a day. I live in the UK and work in the EU/CH: I can keep expenses down to 700 Euros a week (hotel, flights, taxi or parking). Work out NICs and tax on the rest, and something interesting happens: At about 26 weeks I cross into 40% tax, and after that I take home just 80 pounds a day. I might just rather have half the year off.
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Expenses of €700 a week?
'nani must be cheap man!!! -
work it out at 30% for the whole yearComment
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"Taking time off should be classed as tax evasion a Labour "think tank" has proposed this week...."Originally posted by expat
Only a matter of time.Comment
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That's exaclty what I have in mind. They can't tax what you don't earn.Originally posted by DimPrawn
Can they??Comment
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That's a good point too: I´'ve been trying to keep the expenses down, but why bother? After 26 weeks, work for taxis and 5* hotels.Originally posted by bobsmithldnComment
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Under new laws being passed they can give you a "deemed salary" and take the tax you would have paid if it were not for the fact that you are not working.
It's only "fair" you "silly contractors".
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It's only fair that I sould point out that I made a bad mistake in my calculation, and I'd actually take home twice that. Still...Comment
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expat - if you work so long outside of UK, this should make you tax exile as far as UK is concerned (I think you have to live here for 183 days per year), and days of departure and arrival are counted towards time spend outside of UK. Thus 40% tax should not apply.Comment
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183 days in any given year, or 91 days per year average over 4 years.Originally posted by AtW
But that's not the point: the days of not being resident anywhere are gone. And I'd still be travelling every week. And I want to get a mortgage....Comment
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