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> The problem with contracting is nobody is paying > into your pension You can take up to £40k out of your Ltd company tax-free in to your pension. >
by peteretep 11y ago
> The problem with contracting is nobody is paying
> into your pension
You can take up to £40k out of your Ltd company tax-free in to your pension.
> you have no paid leave
220 days is the magic number to use to value your contracts. Public holidays, some leave, weekends, etc. 400 * 220 = £88,000. Plus flat-rate VAT bonus. Plus you pay yourself in dividends. Plus you claim some sensible expenses, and shirk your NIC obligations, and your take-home is about £6,000, which is actually equivalent to earning £112,000. With four weeks of leave included.