Hi,
I am an IT contractor and am using an umbrella company and I am paying 40% tax on my wages.
Not 40% on part of it... when I compare my gross and what I get into my hand there's 40% of it gone. (And this includes some expenses of about 300 Euro)
I'm looking at another umbrella company but I don't have high hopes.
Years ago in the UK it was possible to give yourself a small yearly wage and put the rest back into the company - but IR35 seems to have stopped that.
Is there anything in Ireland like that?
Does anyone have any suggestions on how to lower my tax bill?
I am an IT contractor and am using an umbrella company and I am paying 40% tax on my wages.
Not 40% on part of it... when I compare my gross and what I get into my hand there's 40% of it gone. (And this includes some expenses of about 300 Euro)
I'm looking at another umbrella company but I don't have high hopes.
Years ago in the UK it was possible to give yourself a small yearly wage and put the rest back into the company - but IR35 seems to have stopped that.
Is there anything in Ireland like that?
Does anyone have any suggestions on how to lower my tax bill?