06-06-2016, 14:56
(26-05-2016, 20:35)oneandonlyMrsJones Wrote: I rentDon't forget that tax relief will only save you some of the cost (29% if you pay tax at the basic rate of 20% and National insurance at 9%). So for every £100 you pay the tax relief will reduce it to a true cost of £71.
but I escort too, I aim to have 3 meets a week
My rent is £341 for a one bedroomed flat but all my costs incl fast speed broadband and sky TV are about 500 a month, but I budget for £600
Not all of it but much is offset again my self employed tax status
I am also in the position of being in receipt of a reasonable pension, so I came into this from a different viewpoint.
Hope that helps
Higher rate (40%) taxpayers will do better.
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