Take Home Pay Calculator – Discover the 7 Magic Benefits That Allow You to Net 85% of Your Earnings
Have you tried using a take home pay calculator to increase your net salary?
Are you tired of handing almost all of your hard earned cash to the HMRC, and holding on to the bare minimum?
Do you need help in deciding what needs to be done so that you can retain most of your pay?
Not everyone is cut out to be a contractor – it takes a lot of courage going out on your own without being guaranteed of a paycheck at the end of each month.
It often seems as though, by being an entrepreneur, you are being punished by the government as you are taxed more heavily. Not really fair is it? And how can you keep your bank account in credit when you are paying out ever-increasing amounts. Money that you have worked very hard to earn in the first place.
So what can you do? How can you pay less and keep more of your net pay? And how can you do this legally?
Umbrella companies, or their alternatives, that use an contractor tax solution take care of all of your needs – no more paperwork like invoices, time-sheets, National Insurance, Pay Calculator contracts, expense claims or tax forms for you to worry about. Your requirements are taken care of for you and you are free to concentrate on doing the actual job.
Disadvantages of an Umbrella Company:
- But, (and there always has to be a but doesn’t there) a new piece of legislation called The Managed Service Company act, has been brought in making it almost impossible for umbrella companies to pay you more.
- Despite the fees you had to pay to join an umbrella company, and keep paying even if you weren’t currently working, or pay even to leave,
- umbrella companies were still easier to deal with than tackling all the paperwork yourself. In essence, prohibitive fees and legislation have forced many contractors into handling the volumes of paperwork themselves anyway.
So, of course you want to increase your net income, but you don’t know how. Your first step would be to investigate all your options. There are many Contractor Tax Solution firms that provide an excellent Take Home pay Calculator and will often send you a free information pack and the Take Home Pay Calculator will help to give you a true reflection of the options open to you by comparing the various forms of tax advantage structuring. With most of them You’ll do a quick free assessment and they will give you a personalized projection of your potential earnings. It’s that simple.
The Six Benefits to Having a Good Contractor Tax Solution In place to protect your Contract earnings
- A contractor tax solution firm treats you as an employee and tackles all the paperwork and IR35 compliance issues. They fall outside the scope of MSC legislation, and for your client’s benefit, they also fall outside the scope of Transfer of Debts of Managed Service Companies.
A Contractor tax solution is managed by the solution provider company with the sole interest of the employees. Your benefits include:
1. Average earnings retention of up to 85%
2. No charges when you do not work
3. No charge to join or leave employment with a good contractor tax solution
5. Fixed longer-term contractors can still participate
6. Professional Indemnity Cover (subject to confirmation of profession and placement indemnity requirements)
7. Tax is handled for you
I humbly hope this information on how you can benefit from a net pay calculator consultancy go over your contracts and help you to obtain a higher net income. Discover the value of a good Take Home Pay Calculator.