S sarahc Well-Known Member Joined Feb 22, 2010 Messages 462 Reaction score 5 Location london Jul 9, 2010 #1 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 ?
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 ?
J jes Well-Known Member Joined Jan 1, 2008 Messages 557 Reaction score 18 Location Norfolk Jul 9, 2010 #2 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.
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.