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Why would self employed have to use net earnings?paperwork wrote:I am applying as a freelancer/contractor.
My Gross Total receipt from profession is lets say 10000/- amount.
After deducting the 4000/- expenses incurred in profession from the 10000/- amount.
The NET income comes to 6,000/-
Which Amount I should be using to calculate my earning.
is it 10,000/- Gross earnings
or 6,000/- Net earnings.
For self employed I think one has to calculate with net earnings. and for salary its gross earning.
Can some one tell what would it be for Contractors?
Thanks for ur time in advance.
Cheers!
Exactly, check the guidance instead of guessing.vagabond4life wrote:Self employed : Net Earnings
Contractors : Net Earnings
Salaried : Gross Earnings
This is mentioned in the guidance note. Also refer to Sticky on Case workers manual. I have posted links to what a case worker will look in determining your income.[/b]