Hi
I work on a contract basis in financial services and am considering setting myself up as a ltd company. I have been told I could avail of corporation tax rate of 12.5per cent. On a salary of 70000k for example what impact would moving from standard taxation to corporate taxation have on take home pay , including keeping in mind USC paye prsi etc? I'm trying to work out if it really is worth it to be paid as a corporate instead of as a contractor. Im married and we both earn, fulltime and are currently taxed jointly.
Thanks for your help.
I work on a contract basis in financial services and am considering setting myself up as a ltd company. I have been told I could avail of corporation tax rate of 12.5per cent. On a salary of 70000k for example what impact would moving from standard taxation to corporate taxation have on take home pay , including keeping in mind USC paye prsi etc? I'm trying to work out if it really is worth it to be paid as a corporate instead of as a contractor. Im married and we both earn, fulltime and are currently taxed jointly.
Thanks for your help.