Mistique asked:
I started being self employed today. Ive filled my forms in for tax and NI.
I just want to know how much tax to put by monthly.
My takings will differ so i need to know on a % of my takings.
Maybe a little more so i can get some back end of tax year.
My Takings will be between £2000 - £2800 per month. Before Tax & NI.
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2 users responded in this post
It’s impossible to say how much you should save without knowing your income, but 20% should cover the tax.
35% of anything over £90 this will ensure you keep enough away for your tax and NI contributions. And that way you’ll be left with abit over to which will leave you with a nice suprise next year! Its a good way to save hehe…
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