Contract At 400 A Day - Whats My Take Home Pay

[joey122]

I ve been struggling with the maths here....

If I work 200 days a year at 400 a day the business takes home 80K a year.

Assume 5K a year expenses, 10K personal salary, that leaves 65K profit which needs to be withdrawn as a dividend.

Can someone help me work out the take home pay.

65k * 79% (21% corporation tax) == 51K??

[Zippy]

<zip dons the tin hat and grabs the popcorn and beer>

[HairyArsedBloke]

You've got the expenses all wrong.

For a start - you have to add that to your income not take it away. Whoever heard of paying your own expenses?

That £5000 is too small too. That should be in the region of £20K.

Don't worry about having to get some of it to Hector. Just say "NO!" and he'll bottle out and go bother some little people.

HTH

[DiscoStu]

Can someone help me work out the take home pay.

Yes, your accountant.

HTH

[norrahe]

Yes, your accountant.

HTH

WHS

[Lumiere]

Assuming this is a genuine post: answer