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Reply to: Anyone we know?
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Previously on "Anyone we know?"
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A contractor working at a level of a permie tugging 40K salary would probably be charging more like 60K a year as an equivalent, so therefore would be paying more tax. That article really wasn't very well written and once again paints us in a light of tax avoiding bar stewards to Joe Public.
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Originally posted by mudskipper View PostStick the figures in here
https://www.contractoruk.com/calcula...alculator.html
(Zero out everything else)
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I only dressed as Batman once.
Times were hard and admin was looking for temp staff.
I lasted less time than MF as mod.
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Seemed a fluff piece to me - no questioning of HMRC figures/estimates. Comparison made between perm on 40k and contractor on 40k a bit crap. The contractor will usually charge more and therefore more revenue in tax.
No real detail on how much a perm benefit adds up to.
Not a huge amount from companies on the benefits that a contractor can bring. Often, smaller companies can't afford to employ someone full time with the skills of a contractor. I know I've worked for companies in Wales where they struggle to get perm people to do the commute.
If I was a perm reading this article I would say bloody contractor make em pay the same as me.
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Originally posted by DaveB View PostDoesn't read that way to me.
The article only ever refers to Income tax and NI, which is the way HMRC present it as well.
https://www.contractoruk.com/calcula...alculator.html
(Zero out everything else)
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Originally posted by mudskipper View PostI think the figures include corp tax. But assume zero expenses etc.
An employee earning £40,000 a year will generate a total of £12,146 in income tax and national insurance, according to the IFS, while a company owner-manager will generate only £7,358 — nearly £5,000 less.
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Originally posted by DaveB View PostArticle also only focusses on Income Tax and skips over the Corporation tax that freelances working through a Ltd pay.
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Article also only focusses on Income Tax and skips over the Corporation tax that freelances working through a Ltd pay.
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Originally posted by woohoo View PostPay-wall, can you summarise (other than the lego bit above).
Works in services at Heathrow.
Likes elevator music.
Too fat for regular retail costumes.
Plays with lego.
Dresses up as Batman.
Gosh, no idea...
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https://www.thetimes.co.uk/article/f...4b83b1d4b1501e
Some of us pay for the papers so can give links put
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Google "Freelancers in the tax crossfire" - I think you can access from there.
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Originally posted by mudskipper View Posthttps://www.google.co.uk/url?sa=t&rc...tco9u1PvSPDSWu
"I spent most of my time building Lego and dressing up as Batman"
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Anyone we know?
https://www.thetimes.co.uk/article/f...4b83b1d4b1501e
"I spent most of my time building Lego and dressing up as Batman"
Edit: amended with eek's linkLast edited by mudskipper; 18 December 2017, 10:32.Tags: None
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