15. Net salary comparison: Married contractor, 1 salary, 2 children Gross Total change % change € 55,000 -€1,625 -4.1% € 75,000 -€2,025 -4.1% € 100,000 -€1,776 -3.0% € 125,000 -€1,526 -2.2% € 150,000 -€1,276 -1.6%
16. How do you regain financial control? 17/12/10 Noone Casey Budget 2011 Maximise Income Reduce costs Reduce taxes Reduce risk Contractor income subject to market rates Assess all personal costs Assess tax status Prompt timesheet approval & Invoice on time Additional sources of income Assess all business costs Review all credits & reliefs 3 rd party holding your money Use company structure Unknown co-directors
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Editor's Notes
45% of work force pay no taxes 60% of all income tax paid by 8% of population
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