Clean It Up

UK General Cleaning Forum => General Cleaning Forum => Topic started by: Mrs Nicholls on November 08, 2008, 08:10:34 pm

Title: setting aside money for tax & Class 4 nics
Post by: Mrs Nicholls on November 08, 2008, 08:10:34 pm

Hi guys

I really know that i should really know this, but how much should i be setting aside each month for tax & class 4 nics?

I have been told its 30% of turnover, but that seems too much, should it be 30% of net profit? or a different % completely and from a different figure altogether?

I'm sorry,  ???  ::)  ;D but i keep getting different information, and i want to get it right.

Thank you very muchly

Lisa
xxx

Title: Re: setting aside money for tax & Class 4 nics
Post by: BDCS on November 08, 2008, 09:03:32 pm

I put 10% of every invoice away for the nasty man and pay my ni by direct debit each month

Title: Re: setting aside money for tax & Class 4 nics
Post by: clinton on November 09, 2008, 09:29:24 am

 :)

Same here and most times there is money leftover so its a bonuss at the end of the year.

Its much easier dd for n i c as i dont get into a muddle :)