golds

 

 

 



Taxes


Taxes included in your bill

Are you aware how much of your payments to golds for services and products goes in taxes?

For every pound (£) you spend in golds the following taxes are payable by golds (staff and company)

VAT @ 20%
16.7 pence
Business Rates
3.6 pence
PAYE / National Insurance
14.9 pence
Corporation Tax
1.2 pence
Council Bin Collections

0.1 pence

Taxes included in suppliers invoices
2.0 pence (minimum)
   
TOTAL
38.5 pence

So, for every pound you are paying 38.5 pence in taxes.
This means that on a ladies Cut and Blow dry costing say £35.00 you are paying £13.48 in taxes. This is out of your income which has been already been taxed at around 30%.

Taxes hit hair salons particularly hard as we are labour intensive. This makes our effective VAT rate and payroll taxes higher than for most other businesses.