pay on self employed to not!!

[fuzzgell]

hey lads looking a bit of advice on money.lol.i am a plumber in northern ireland and am working for a company but am self employed(think its called CIS or somethin like that!)i am getting approx 370 home and 450 before tax. i am looking to go back on the cards(sick and holiday pay etc)and have been told that my money will drop till 320. my question is what is equal to the 370?! is it 330 as knew it would drop but was kinda hoping for 350ish as knew 370 wasnt great for self employed. from what see most of post are from england but hopefully someone can help me. thanks

 

[johnmcginty]

Alright mate ...post the same question on moneyexpert.com

 

[newbie1]

right 450 gross shld leave approx 360 after tax and u then pay ur own n insurance
but on the cards they say you will end up with 320 so gross will be approx 25 percent stoppages because they pay ur tax and nat insurance so that figure is fairly close

 

[so-solar]

I thought the rates in ireland were better than that!

 

[fuzzgell]

I thought the rates in ireland were better than that!

depends southern ireland people are geting 200 a day approx but in the north in depends good wage on cards is bout 400ish home but not many want pay that.lol average would say bout 350 and that would would be mainly bigger firms

 

[alph250]

320 isnt that bad when you take into consideration you also get holiday, sick pay, Bank Holdiays paid for!

Look at it like this;

Self employed taking home 370 per week or 19240 per annum then less say 8 bank holidays, 20 days un-paid leave, and 2 days sick, that would leave you with only 17020 or 327 per week thats assuming you are always required to work!

Employed taking home 320 per week or 16640 per year which includes 20 days holiday 8 bank holidays and say 2 days sick!

So really your only loosing out on 7 per week, and yes okay self employed has its 'ahem' tax benefits. But with that comes the balls ache and the worry if work drys up.

For the sake of 7 per week i would go employed and make up my wage with a bit of evening and weekend work.