Find out what your take-home pay could be:
Calculate your take-home pay to see how much you could earn
You can use our simple calculator to provide an illustration of what your take-home pay could be, depending on your rate of pay and working hours.
The calculator is only a guide and should not be relied upon to give an actual figure, but it does help explain the differences between the different structures and how this affects your take home pay.
How we calculate these figures
Our take-home pay calculator does make a number of assumptions in the background in order to calculate the figures.
The limited company calculator assumptions:
Tax rates are based upon 2020/2021 and assumes no other personal income and that your company is incorporated and operated within the UK.
An individual’s personal allowance is £12,500 for the year (2020/2021).
All profits after tax are withdrawn from the company as dividends.
Flat rate scheme is applied to the company turnover figure at a rate of 16.5% with a first-year discount of 1% applied.
Expenses are inclusive of VAT.
The income is not subject to IR35 and the contract is outside.
Director’s salary is assumed at £8,632 per year
Limited company accountancy fees are already assumed within the calculation and based upon the Express service package at £120+VAT
Employment allowance is not applied.
A fixed-fee monthly accounting service you can trust
We’ve been operating specialist accountancy services for contractors and freelancers since 1989.
JSA is a fully accredited member of the FCSA, the most reputable trade body and rigorous enforcer of compliance and customer service standards in the contracting sector, underpinned by a wide-ranging annual audit by EY.
When you sign up to our limited company accounting service or our Umbrella employment solution, you do so safe in the knowledge that you will be using an accountancy provider that is experienced and expert in the sector.
Contractor accounting service
For only £125.00 + vat per month
Your own dedicated accountant
Unlimited advice and support
Year end accounts submitted
Self Assessment tax return
Expert IR35 contract review and guidance
Free bookkeeping system by Freeagent
MTD compliant VAT submissions
Umbrella company solution
Call our sales team
Quick and easy set up
Same day, faster payments
Dedicated support team
SMS notifications when paid
Business insurance included as standard
Employee benefit scheme included
Workplace pension included
Industry news, analysis and expert opinions
If you’re now ‘inside’ IR35, there are plenty of options available, including continuing to work through your PSC.
James Harris, Head of Compliance explains the importance of choosing the right Umbrella company.
If you’re caught by IR35, you don’t have to close your PSC. IR35 Switch allows you to operate inside and outside contracts compliantly.