Self-Employed Mortgages

ACG

Dharper there are a few flaws in your post:
1) A guarantor as far as I am aware does not incur higher rate stamp duty - unless they are going on the deeds of the property. A guarantor would not normally do that.

2) £15k income is not taxed at 20%, only give or take £3k of it is taxed at 20%, therefore it is more like £14,000-14,400.

I am not saying I necessarily disagree with the outcome, but being self employed is a different kettle of fish to being employed. Because I sometimes work from home rather than the office I can put some of my expenditure through the books. I also no longer spend a fiver a day on my lunch from wherever as I have food in and I no longer spend best part of £10 a day on a train commuting. Instead I drive to my office a couple of times a week which costs less.

It is very possible to earn £15k self employed and have more in your pocket at the end of the month than an employed person earning £20k.

dharper81

£15000 income
- £800 income tax
- £145 class 2 NIC's
- £625 class 4 NIC's

Net income = £13,430