Beauty geeks, what do you pay yourself an hour ?

[sarahc]

hope this isnt too forward was just wondering what you paid yourself an hr - ie clear pay before tax and ni but not inc expenses

was thinking around £20 - what do ou think ?

 

[jes]

Hiya,

I've just answered a very similar question. What you take out of your business (what you call wages) is not tax deductible.

You have to pay tax and NI on all your profits (very simply, total takings minus expenses).

You can pay yourself whatever you like, as long as you can pay the tax man at the end of the year.