laddergarder
Well-known member
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- Greenock, Scotland
OK so let's say 35k x3
105000 (gross) you pay 16.5%
17. 3k vat
12k expenses
60k salaries
Gross income before taxes would be £15,700
Not really worth the hassle of dealing with 3 employees, IMO.
If you just pay the normal rate vat it would be 1/6th of your gross or 20% of your net, which would be 17.5k but you can claim back vat on purchases, which you can't on the flat rate.
105000 (gross) you pay 16.5%
17. 3k vat
12k expenses
60k salaries
Gross income before taxes would be £15,700
Not really worth the hassle of dealing with 3 employees, IMO.
If you just pay the normal rate vat it would be 1/6th of your gross or 20% of your net, which would be 17.5k but you can claim back vat on purchases, which you can't on the flat rate.
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