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Take-home Pay Calculator


Take-home Pay Calculator

Ever wondered how much you could earn as a contractor? Our contractor calculator provides an illustration of the amount you could take home working as a contractor.

This calculator assumes full tax planning and that there are other procedures in place, in order to obtain a more accurate estimate. Most contractors can usually take home up to 80% but this of course depends on various elements such as your daily rate etc.

With our calculator you can also see weather you fall inside or outside IR35, you can read more about this on our IR35 Guide.

If you are thinking about becoming a contractor through your own Limited Company you can read more about this here, or you can contact Craig on 01253 362062 or email

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Not on the flat rate scheme
Second shareholder?
Monthly take home pay (% of annual income)
Warning: your expenses currently exceed your annual income. Please reduce your costs. Your annual pension contribution exceeds the annual allowance of £40,000 – you may therefore incur an additional tax charge on the excess contribution. Please refer to our pensions factsheet for more details about the tax implications of pension contributions.
Print results
  Outside IR35 Year 1 Outside IR35 Year 2 Inside IR35 Year 1 Umbrella
Annual Income @ £1000 per day
Add Flat Rate VAT Saving
Mileage @ 20 miles per day
Home office @ £4 per week
Pension contributions @ £1073.33 per month
Other expenses @ £11 per day
Accountancy fees
Employer's NIC
Pre-Tax Profit
Corporation Tax
Post Tax Profit
Dividends declared (net)
Profit Retained in the company
Personal Income Details
Gross Salary
Less - PAYE on Salary
Less - NIC on salary
Net Dividends
Less - Tax on Dividends
Pension Contributions
Total Income After All Taxes
  Outside IR35 Year 1 Outside IR35 Year 2 Inside IR35 Year 1 Umbrella
Monthly Take home pay
Take home pay as % of annual income


  1. Uses tax rates and allowances for 2015/16
  2. Assumes no others sources of income for the contractor
  3. Based on income/expenses as detailed
  4. The Higher Rate taxes will be LOWER if you work fewer weeks, increase expenses, pay more into your pension or your rate falls.
  5. The Higher Rate taxes will be HIGHER if you work more weeks, reduce expenses, pay less into your pension or your rate increases.

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