IT - Contracting - anyway to work out tax?

Folks,
I appreciate you assistance.

Started a contract there for 2 days per week, 250 euro per day. So 500 per week.

I have to travel to the job (190km), I stay with a relative for 1 night, then drive home again (190km).
The diesel bill is about 60 euro per week.

I have setup as a soletrader.

I also have the tolls, 5.80 per week.

So based on that is there anyway to calculate what I could take home?

Now they have also offered me a chance to training into new area, they have changed the rate down to 200 per day for a 5 day week. So that 1000 euro per week.

The same weekly expenses apply as above, 65.80.
Again I will be staying with family.


Any help would be great.

As a self-employed person you need to prepare a set of accounts and therefore need to record all expenses in connection with the work and keep receipts.
All expenses which are wholly and exclusively incurred in the business will be allowable. Any expenses that have some private element (such as motor expenses etc) can be apportioned.
I would reccommend you read the Revenue guide to "starting in Business", and you will also need to consider registering for VAT if your turnover will be over €37,500 in any 12 month period.
You may want to consider getting professional advice, and may also want to consider operating through a Limited Company.

www.taxingtimes.ie

Domo said:

As a self-employed person you need to prepare a set of accounts and therefore need to record all expenses in connection with the work and keep receipts.
All expenses which are wholly and exclusively incurred in the business will be allowable. Any expenses that have some private element (such as motor expenses etc) can be apportioned.
I would reccommend you read the Revenue guide to "starting in Business", and you will also need to consider registering for VAT if your turnover will be over €37,500 in any 12 month period.
You may want to consider getting professional advice, and may also want to consider operating through a Limited Company.

www.taxingtimes.ie

Click to expand...

Thanks Domo, I am self employed and under the VAT registering for now, that may change.

I will have a look at the revenue guide there, I have a good accountant but I said I would ask on here to see if anyone could give me a rough idea first.

Thanks for the advice.