[MNWC]

Hi

In the new year i may be subbing out some work

Just as an example if the job was worth £200 and i was paying £100, how do i stand on the tax front.

Am i right in thinking that if the contracter gives me an invoice then i am liable to pay tax on the £ 100 that i made  ?

Also what % do you lot charge for subbed out work ?

Thanks in advance

Marcus...

[Paul Coleman]

Hi

In the new year i may be subbing out some work

Just as an example if the job was worth £200 and i was paying £100, how do i stand on the tax front.

Am i right in thinking that if the contracter gives me an invoice then i am liable to pay tax on the £ 100 that i made  ?

Also what % do you lot charge for subbed out work ?

Thanks in advance

Marcus...

If the profit is £100 then you pay tax on that (and a bit of extra NI as well don't forget).  There will be other costs to you as well but that is more about the general running of the business than specific to this particular job.
Percentages for subbed out work can vary a lot.  It depends what the subcontractor is supplying (e.g. van (and associated running costs), water filtration etc etc.  I suppose there is a minimum as to what the subcontractor must supply beloiw which they would be regarded as a PAYE employee.  If the subbie is supplying everything, I've seen figures ranging from 50/50 to 75/25 (in favour of the subby of course).  I supose  where you pitch it can depend who needs who the most and how well priced the jobs are.

[mark dew]

Are you gonna subby out those tescos in lowestoft marcus?
That would have burnt me out driving from sutton bridge every monday. Though most of the journey is fine, it's the lowestoft area that is depressing for a motor vehicle.

[MNWC]

Hi Mark

Sadly i never got the Tescos there , not for the want of trying though !!!

Marcus...

[mark dew]

Hi Mark

Sadly i never got the Tescos there , not for the want of trying though !!!

Marcus...

It might not have been a bad thing. That has probably added a few years onto your life marcus. Lowestoft is a nightmare for traffic.