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firstly, if you get 80% of your income from one source, you’re classified as an employee, so something to watch out for.

Secondly, you should be dividing by 48 weeks, as you should be getting 4 weeks ‘annual leave’ regardless of whether you take it or not,

and thirdly, a 40hr week, in some cases, would be classified as overtime.

So, whilst I understand you are a contractor, don’t be selling yourself short!