Calculator Assumptions
Umbrella calculation
- Under Supervision, Direction or Control (SDC) on any assignment during the tax year
- No expenses
- Contractor Umbrella’s margin is included in this calculation
Limited calculation
- Limited Cost Trader Flat rate scheme for VAT, with first year discount factored in
- Annual expenses of 5%
- Contracts outside IR35
- Directors salary for the year of £8,628.00
- One director/shareholder involved in the company
Both calculations
- Working 40 hours per week over 52 weeks
- 19/20 tax and NIC rates
- No additional personal income from any other sources
- Full personal allowance per year (tax code 1250L)
- You have no earnings from other sources this tax year
- Contractor opted-out of pension scheme
