Estimate your take home pay and expenses
Want to know how much you could earn as a contractor? Of course you do! Simply enter a few details below and we’ll show you what you could walk away with if you choose either the umbrella route with us, or to set up a limited company with our sister firm ClearSky Contractor Accounting.
Umbrella calculation: 1. No Supervision, Direction or Control (SDC) on any assignment during the tax year. 2. Parasol’s margin is included in this calculation
Limited calculation: 1. Flat Rate Scheme for VAT with first year discount applied. 2. Assignments not subject to IR35. 3. Director’s wage of £8,632 per year. 4. Accountancy fees based on the Assure package from our sister company ClearSky Contractor Accounting 5. One owner/director involved in the company
Both calculations: 1. Based on you working 37.5 hours per week 2. Work 48 weeks per full tax year. 3. Business mileage calculated at 45p per mile for the first 10,000 miles per annum and at 25p per mile thereafter. 4. 19/20 tax and NIC rates. 5. Full employee personal tax allowance per year (tax code 1250L) 6. You have no earnings from other sources this tax year
Please enter your details below: