Sorry not sure if this is the right place to post :
I have spoken to a few people to try and understand the take home % possible under a limited company, but no one gives me a difinitive answer.
Can someone please advise on this:
Say I make £100k
under a limited company outside IR35:
Salary say £12,000 net of tax and employees NIC :
Annual turnover 100,000
Remuneration 14,169
Employers NIC 979
Accounts 900
Other expenses ?
Total 16,048
Profit before tax 83,952
Corporation Tax 20% 16,790
Net profit after tax* 67,162
* available for dividend
Now what I do not understand is if the £67k is tax free or do we also pay a tax on that portion ?
If so, then what would the take home % be ??
Thanks in advance.
I have spoken to a few people to try and understand the take home % possible under a limited company, but no one gives me a difinitive answer.
Can someone please advise on this:
Say I make £100k
under a limited company outside IR35:
Salary say £12,000 net of tax and employees NIC :
Annual turnover 100,000
Remuneration 14,169
Employers NIC 979
Accounts 900
Other expenses ?
Total 16,048
Profit before tax 83,952
Corporation Tax 20% 16,790
Net profit after tax* 67,162
* available for dividend
Now what I do not understand is if the £67k is tax free or do we also pay a tax on that portion ?
If so, then what would the take home % be ??
Thanks in advance.
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