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Going Self Employed
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<blockquote data-quote="user 28595" data-source="post: 448608" data-attributes="member: 28595"><p>Doing the basic maths for PAYG to SE.</p><p></p><p>PAYG</p><p></p><p>Rate = 20/hr</p><p></p><p>Employer pays National Insurance, pension, allowance for holiday / sick etc.</p><p></p><p>SE</p><p></p><p>National Insurance: 9%</p><p></p><p>Pension minimum: 10%</p><p></p><p>Holiday: 4/52, 8%</p><p></p><p>Sick: 1%</p><p></p><p>Total: 28%, not including additional time to manage your business, or personal / professional insurance</p><p></p><p>Rate = 30/hr</p><p></p><p>That's more than your proposed extra 9/hr so you have been diddled.</p><p></p><p>Plus HMRC will treat you as a standard employee so there are no extra deductions.</p><p></p><p>Sounds to me like the tidy firm want you off their books.</p><p></p><p>cheers, Paul</p></blockquote><p></p>
[QUOTE="user 28595, post: 448608, member: 28595"] Doing the basic maths for PAYG to SE. PAYG Rate = 20/hr Employer pays National Insurance, pension, allowance for holiday / sick etc. SE National Insurance: 9% Pension minimum: 10% Holiday: 4/52, 8% Sick: 1% Total: 28%, not including additional time to manage your business, or personal / professional insurance Rate = 30/hr That's more than your proposed extra 9/hr so you have been diddled. Plus HMRC will treat you as a standard employee so there are no extra deductions. Sounds to me like the tidy firm want you off their books. cheers, Paul [/QUOTE]
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