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contract rate and likely take home pay

  • 24-01-2008 3:52pm
    #1
    kcphoto
    Closed Accounts Posts: 97 ✭✭


    Hi,

    I've been in I.T. for a good few years but have never done contract work.
    I've applied for a position which is paying €180 per day max,(6mnths with possible extension) which was initially referred to as 3rd level support but in fact seems to be deskside support, with experience of Exchange, AD, pc support etc.
    I'm a sole trader but have been advised to use cxc as the company won't deal with sole traders.
    My questions are:
    1. Is the rate very low or average for this type of contract work (sorry I don't have more details on the work terms&conditions yet)
    2. For a single person, does anyone know roughly what take home pay I'd have per month after tax, PRSI ,CXC fees etc.
    3. Is it a quick and easy process to be registered with cxc or do I have to de-register as sole trader and have tax returns etc in first with my own accountant?

    I'd appreciate feedback from any one who might have direct experience of any of the above.


Comments

  • #2
    JackieChan
    Closed Accounts Posts: 1,829 ✭✭✭JackieChan


    2)If you have several years experience doing 2nd level/3rd level support I would think the rate was on the low side. Then again your in Cork so the rate would be lower to what would be paid in Dublin so it may be about right.
    Would a permanent role not pay 40k or even a little higher?

    3)I'm going to assume CXC are charging 5% of gross

    Average month 20(days)x180=3600.
    Yearly 3600*12=43200

    CXC charge 5% of 43200=2160(deductible)

    tax@20% =.2*35400(cut off pt)=7080
    tax on remainder(43200-35400-2160=2312.5
    prsi (flat 5% on all taxable income) (43200-2160)*5%=2052
    Credits(only single persons credit available,lose PAYE credit) 1830(I think)
    take home is (43200-7080-2312.5-2052-2160+1830)/12
    So approx 2620 a month.

    This excludes any other credits/deductible receipts you would have


  • #3
    kcphoto
    Closed Accounts Posts: 97 ✭✭kcphoto


    Thanks for that comprehensive info !

    From looking at available jobs, I'd say rates in Dublin are a bit higher than Cork.

    Similar permanent jobs seem to be in the 35-40k region so might be better paid at the higher end of that scale alright, just think contract might suit me at present.

    Thanks again .


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