Hi,
I have paid tax and ni on job that i was made redundant from in this tax year, i am starting to do some contractor work in the same tax year. i am reading that i will pay 2 lots of ni one as employer and one as employee amounting to approx 25% plus my tax which seems a lot and a little unfair, my problem is im unsure how much money i can use from contractor earning to ensure there is enough left in the account for the tax man. i would appreciate a conversation with someone who could shine some light on my situation.
Bonus question.... can i just withdraw as dividends (ensuring i leave 20% for hmrc) seeing i have already paid NI this year through my full time job i was made redundant from?
Thanks
I have paid tax and ni on job that i was made redundant from in this tax year, i am starting to do some contractor work in the same tax year. i am reading that i will pay 2 lots of ni one as employer and one as employee amounting to approx 25% plus my tax which seems a lot and a little unfair, my problem is im unsure how much money i can use from contractor earning to ensure there is enough left in the account for the tax man. i would appreciate a conversation with someone who could shine some light on my situation.
Bonus question.... can i just withdraw as dividends (ensuring i leave 20% for hmrc) seeing i have already paid NI this year through my full time job i was made redundant from?
Thanks
Comment