quick question re. tax...

[purplepeony]

I am looking at applying for a job p/t- which pays £14,400 for 3 days.

How much of that would I lose in tax and NI- net monthly income?
I am curently self-employed so pay tax in a lump sum, so can't do a comparison.

anyone?

You'd take hom around £980 a month, you'd be paying approx £130 - £140 tax and £80 NI depending on your tax code.

Cheers! I did some sums adn got it to around £950 as a guesstimate.
I'd be paying £250 a month in fares - London- so that doesn't leave much.

no it doesn't! Have you added in any benefits you may get? Working tax credits? Could you also buy a annual travel card to save some pennies?

well, it is £700 a month more than you have at the moment, plus NI contributions.

sorry, missed currently self employed. so you have to weigh it up against how much you earn from self employment.

I have roughly the same from S/E BEFORE fares, so it would be a case of changing jobs but not being any better off.

I am just sick of working from home and feeling isolated. I would combine some of my current work with the 3 days, but still unsure whether to try it or wait for a higher £££s.

CS - no, no tax credits as DH earns over the limit. Also, would not need a season ticket ofr 3 days- could get 10 journeys for the price of 9, but that's all- car park is £6 a day!

There's a helpful salary calculator here that gives you a full breakdown on tax and NI, you just type in your salary and your tax code.

does the job have potential? for progression/earning more?
does the SE have the same potential

it sounds like the employment may offer you things that the SE isn't, but what DO you like about the SE that you wouldn't get from the employment?

could you look for a 1/2 day employment and combine it with some of the SE to get the best (or maybe worst!!) of both worlds?

If the net income take are about the same (I presume you are factoring your tax payments into the SE income) then you need a list of pros/cons of the SE, and potential pros/cons of the employment.

Sure thanks CS- Ideally I'd like 1-2 days not 3. Cuts down on fares. And I'd combine SE and employment.

I like the freedom of being SE but I work from home- clients come to me- and I am just very isolated. I like more buzz. Been doing the same thing for 10 years.

It's a big step- employment would not be in the same field, though some use of similar skills, and the downside is that it would take me in another direction, away from my degree/professional training. it really would be a case of wanting to get out.