Calculator Assumptions

Umbrella calculation

No Supervision, Direction or Control (SDC) on any assignment during the tax year
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 £7,328 including Accountancy Fees and mileage
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