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Reply to: Take home pay again!
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Previously on "Take home pay again!"
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Originally posted by Lance View Post
Probably an assumption that the person in question is taking state benefits of a rather large amount that the poster thinks is not fair or reasonable.
Not a pension.
But I would be grateful if someone could just check my sums for me. He just wants an idea of how low a salary it’s reasonable for him to take.
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Originally posted by hugebrain View Post
He’s trying. But if he does it will increase inequality, damage the environment, harm his client/employer.
what is the reason for your suggestion?
It might be a good assumption. It might be a bad assumption. It's still an assumption.
I assume that to get 'benefits' as large as that it could be a pension. Maybe a clarification would help rather than allowing conclusions to be leapt to.
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Take home pay again!
Can someone check my calculations please? I’m using https://www.income-tax.co.uk/calculator/62500/
If, er, my friend gets £62,500 after tax in benefits, Is the break even point for working (assuming employers NI is not included) around £105,000 a year = 450 per day ?
The above site says it is, but I guess he would have to add a bit for the apprentice levy and umbrella fees?
Assuming Employers’ NI was paid by the employer (crazy, I know) then he would be looking at £93,000 annually?
If he wanted to make £20 an hour over benefits he’d need £800/day inside IR35?
If I’ve got this completely wrong, just tell me the right figures rather than droning on about how much cleverer you are than me.
TIA,
Huge
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