Self employed percentage basis

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P123

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Jan 14, 2017
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Hi, im a well established stylist working in a family run salon. Im wanting to go self employed on a percentage basis so my parents dont lose out too much. If i did 70/30 basis and i provide products does this sound ok? Also do you work percentage after deducting tax expenses or from initial profits?
Appreciate any opinions/advice
 
Standard is 60/40 split but 70/30 is ok too.

You’d pay 30% of your gross client income to the salon owner/your family and then deduct your costs and work out your profit on the remaining 70% for the taxman.
 

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