Originally posted by pmeswani
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Reply to: Contract Rates/ Permie Salary and Math
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Previously on "Contract Rates/ Permie Salary and Math"
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Minimum for me too. My working practices and company structure is such that I am confident of being IR35 clean.
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Originally posted by malvolio View PostSJD's argument (and I've heard it elsewhere) is to tie you salary to somewhere close to National Minimum Wage. (a) because it's good PR and (b) it's quite likely that any changes by Treasury/HMRC to "adjust" our income paramters will be based around NMW anyway. Sounds reasonable but I have no idea how well grounded in reality it is!
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Originally posted by jmo21 View PostCC goes with £6k for its figures, and SJD recommend £11k for what it's worth
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Working only 48 weeks in any 52!
I aint reducing the number of weeks worked for anyone! Currently I only have bank holidays off. Plenty of time for holidays between roles imo.
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thx, sorry i couldnt remember it being 11k , for some reason 9k stuck in my mind.
Still, 1500 a month is little enough to save having to do a PAYE return every month. You can do it every quarter.
Each to their own i guess.
This thread has run its course, im off to hide back under my rock
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CC goes with £6k for its figures, and SJD recommend £11k for what it's worth
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sorry, i dont want to take it off topic, i know its a complex subject. Its just what i want to do as i feel it helps the overall picture i want to project. SJD recommend a reasonable salary of say 9k, but im paranoid and new to all this stuff and its my first year . Maybe i will change another time.
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lol
oh dear, so forgot about contract calculator. . .0wns me
Ive always thought though, taking a salary of £4,020 is just asking to be investigated, and somewhat taking the p155Last edited by yeahyeahwhatever; 21 June 2009, 10:19.
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what's wrong with contractorcalculator?
according to their figures, over a year I'd need £5k less as a perm than with your DR * 254 calc
they work towards a higher percentage, only 44 weeks a year, and considerably less of a salary than £18k.
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Contract Rates/ Permie Salary and Math
Hi all
i blew the dust off my calculator today to do some tax math and have come up with some interesting figures is you want to try them out and see if they are accurate
Based on a 48 week year and retainment of 67% of total turnover (that was my figure anyway) and an 18k Salary
If you want to see how much you would have to earn as a Permie do this: -
Day Rate x 254 = (equivalent permie salary)
If you want to see how much you will earn after tax in a year do this
Day Rate x 161 = (money in the bank after tax)
Worked for me using rates between 300-550 a day. Seems reasonably accurate.
JLast edited by yeahyeahwhatever; 20 June 2009, 19:10.Tags: None
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