Salaries

[benedmonds]

IMO it's best to pay yourself less than the company can afford so that when the tax man comes, or the chipper blows up you can afford to continue working. Also if you balance is healthy you can draw a nice wedge.

[Dagmar]

Sorry, thats what I need to take home. £30,000 net for the 30 or so weeks equals £576.00 net per week, averaged over the year. Not exactly big bucks!

[treemotion]

100 million dollars

 

 

Seriously who is going to honestly say what they earn.

 

:wave:

[Steve Bullman]

didnt you just?

[treemotion]

haha i thinks thats ok for a weekly wage lol.:wave:

[igottacabstar]

IMO it's best to pay yourself less than the company can afford so that when the tax man comes, or the chipper blows up you can afford to continue working. Also if you balance is healthy you can draw a nice wedge.

 

That's the whole point of forming a limited company. What ever profit you leave in the company is only subject to corporation tax at 19% rather than income tax at 40%.

[Log-ologist]

Profit.

 

one day I'm gonna get me a truck load of that...

[Lee Winger]

Profit.

 

one day I'm gonna get me a truck load of that...

 

Snap...

[silvafox]

WhenI started up 10 years ago my bank account swung gently from a little red to a little black. Now it swings like hell from a lot of red to a lot of black and back again. I could never commit to a set wage due to the organic and uncertain nature of the business.

 

My philosophy has always been to take what I need when I really need it. I would rather use my savings to trade with than lock them away for a pittance of interest. Just my simplistic POV.

[Log-ologist]

WhenI started up 10 years ago my bank account swung gently from a little red to a little black. Now it swings like hell from a lot of red to a lot of black and back again. I could never commit to a set wage due to the organic and uncertain nature of the business.

 

 

 

Then.

I was rarely in the red and always had my tax money ready till the VAT asked me to join their club.

 

Now