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Full time vs Self-Employed. Am I better off now?

JamesFuller · 2018-01-13 15:09:49

Hello all, Just wondering. Recently I started my own business for the first time and wondering how much better off I am (if at all). In my previous full-time job I earned £50,000 a year. Now I earn £400 a day as a self-employed person through my LTD company and expected to work around 200 working days a year. The contracts…

Comments

motorguy Posts: 22,626 Forumite

16 January 2018 at 8:27PM

theonlywayisup wrote: »

If the OP is a director then dividends are one of the most tax efficient ways of taking profits from the business.

I haven't been "paid" in nearly 24 years but I have an income from dividends of the companies I am a director of.

Apologies - to elaborate, i wasnt talking about PAYE tax due, but the total amount of tax the company will pay on revenue of £80,000 ish minus £10,000 expenses.

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