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Here is a question for those of you freelancing in the UK.
I will be completing my first self-assessment in this country and I am not familiar with the amounts you usually have to pay for income tax.
My question is basically how much money (what percentage) of my earnings should I be keeping aside for income taxes?
I understand this varies and expenditure has to be taken into account, but a rough percen... See more
Dear all,
Here is a question for those of you freelancing in the UK.
I will be completing my first self-assessment in this country and I am not familiar with the amounts you usually have to pay for income tax.
My question is basically how much money (what percentage) of my earnings should I be keeping aside for income taxes?
I understand this varies and expenditure has to be taken into account, but a rough percentage figure would do, as I have heard different things (about 20%, 25%, etc)
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DGK T-I United Kingdom Local time: 12:47 Georgian to English + ...
rough % from a non expert
Apr 5, 2003
I believe 25% is the very rough estimate that people tend to talk about, to include income tax and national insurance (which is really a tax). The income tax element would be less.
Tax and fiscal experts please correct me...
Looking since - I think there\'s a better answer to this than mine in \"Being Independent\" (in answer to the same question)!
[ This Message was edited by: giulik on 2003-04-06 13:21]
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