If you’re torn between whether to set up your own limited company, or like the idea of contracting through an umbrella company then use our Take Home Pay calculator below to see what you could earn. Here’s also a comparison of the benefits of Limited Company vs Umbrella companies and what you can expect.
Simply enter your daily rate and see what you could take home from both Limited Company and Umbrella payroll.
Contractors will usually find you will take home between 75% and 80% of their contract value through a combination of Salary and Dividend payments when you run your own limited company. You can also find out more about the types of contractor tax you will be obliged to pay.
If our calculator makes up your mind and you want to go ahead and set up a limited company, join Boox today and we can get you incorporated for FREE. Alternatively, you can sign up for a 14 day trial of our accounting software.
|Total Tax Obligations||£0.00||£0.00||£0.00||£0.00|
|Take Home Pay||£0.00||£0.00||£0.00||£0.00|
This calculator provides an illustration based on your net income for those earning less than £150,000 per annum. If you earn over this, or would like a more detailed personal calculation, call one of our client accountants now on 02392 883 315.
The above illustrations make the following assumptions:
> You working 52 weeks per annum, 5 days per week.
> Expenses claimed account for 20% of your income.
> Assumed a 13.8% uplift in your daily rate.
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