Previous Earnings

[london_prem]

I was always in permanent jobs and taking contract job for the first time, so would appreciate your help.

If the daily rate of contract is £300 per day, and I use umbrella company, can I use whole £300 for previous earnings?

[bubin123]

Nope... some part of it will be paid as expenses by the umbrella company to reduce tax out going... Expenses can not be included as earnings..