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New contract- inside ir35 - umbrella help needed

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    #11
    Originally posted by kingkk
    thanks. . so contracting wise contacted and they are claiming to get in hand of 2580 something per week..
    while i can see it cannot go beyond 1650~ per week.

    what these guys do and i think the hmrc will be behind me for that in future ?
    Hi kingkk,

    A take home of £2500~ per week? On £600 per day?

    No chance. There's something else going on here.


    Kind regards

    Zeeshan
    Dolan Accountancy

    Contractor Umbrella

    01442 795 100

    Comment


      #12
      On £600 per day, your take home should be around £1,685 on a weekly basis, so about 56% unless you have pension - 70% is highly unlikely for a 40% tax payer.

      Comment


        #13
        Originally posted by kingkk
        yes even i thought so..

        so it is too good to be true kind of stuff .. as it seems way high..
        can you pls provide the calculation for 70% in hand as mentioned before ?

        thansk
        Hi kingkk,

        If you were a basic rate tax payer, then you could look closer to 70%. However, your advised rate will bring you into the higher rate tax bracket, so this will sit closer to 60%.

        Hope this helps.

        Send me an email and I'll have some calculations sent over.

        Kind regards


        Zeeshan
        Dolan Accountancy

        Contractor Umbrella

        01442 795 100

        Comment

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