I am just about to start my first contract as a consultant and the quote I provided included expenses such as venue hire, travel...do I pay tax on the overall amount or just on the wages component
Thanks
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Hi @noreverse
You're operating as a business now, right? A sole trader perhaps?
The total income from your invoice is what'll go into your tax return as income. So, you pay tax on the overall amount.
We've got some guides that can help, including one for income tax for business.
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Hi @noreverse
You're operating as a business now, right? A sole trader perhaps?
The total income from your invoice is what'll go into your tax return as income. So, you pay tax on the overall amount.
We've got some guides that can help, including one for income tax for business.
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