Net Amount or Gross Amount

k820 · Post by **k820** » Mon Jul 20, 2009 9:21 pm

I am working as self employed.

Do i need to calcuate my previous earning base on net or gross. ?

thanks

Post by **push** » Mon Jul 20, 2009 9:32 pm

k820 wrote:I am working as self employed.

Do i need to calcuate my previous earning base on net or gross. ?

thanks

I think Gross salary, net of expenses!! When they mention Gross in the Guidance notes the intention is to look at Salary before tax and other deductions. For a self employed persion this would translate into Gross-business expenses but before personal tax & deductions like NI (if applicble).

k820 · Post by **k820** » Mon Jul 20, 2009 9:39 pm

If i earned 1000 and my expenses are 200 so its 800 after expenses.

what i understand is,I need to calculate my earning after deducting my expenses.?

Post by **push** » Mon Jul 20, 2009 10:34 pm

k820 wrote:If i earned 1000 and my expenses are 200 so its 800 after expenses.

what i understand is,I need to calculate my earning after deducting my expenses.?

Yes- you should use 800 as the Gross earnings

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Net Amount or Gross Amount

Net Amount or Gross Amount

Re: Net Amount or Gross Amount