Find out what you could be taking home through Contractor Umbrella today!
PAYE Umbrella Calculator
(6 minutes to read)
Joining an umbrella company is the easiest way to work as a freelancer or contractor. Simply use the calculator below to instantly estimate your net pay.
One of the main questions on contractors’ minds is “How much money will I take home?“. We understand that you need to know what you’ll actually be left with after you have been paid and taken care of any deductions such as tax. Use our PAYE umbrella calculator above to quickly find out based on your hourly or daily rate.
It’s worth bearing in mind that all umbrella companies have to abide by the same HMRC rules regarding tax, so regardless of what their umbrella take home pay calculator says, the only difference in take home pay is down to the margin they retain before paying you. If you have been offered a higher take home pay, take a moment to think how this can be possible?
Of course, the margin retained by the umbrella company isn’t the only consideration when deciding which umbrella company to appoint. What is their service like? Have they won awards? Whilst not the be all or end all, it does show that they care about service and their reputation. Do you receive your own contact who you can call and email? You will have lots of questions, so it is important you feel comfortable with them. As you can see, it’s not all about their take home pay calculation.
As a contractor, there may come a time when you will need to change the way you work and move to your own limited company. It’s worth future proofing yourself and using an umbrella company that gives you the flexibility to work this way. This will save you the hassle of moving and you can transition smoothly.
Contractor Umbrella offers all of the aspects that are important to contractors like you, in fact we’ve been supporting contractors for nearly 20 years so you can be sure you are in safe, experienced hands. We also offer limited company services through our dedicated contractor accountants- Dolan Accountancy. Switching between umbrella and limited and back is completely free and all done in house. So, unlike some companies who will transfer you to a different company, Contractor Umbrella and Dolan Accountancy are part of the same group- in fact we are all in the same office which makes us the hassle free choice.
If you are thinking of going limited or would like to use our limited company take home pay calculator click here. And you can find out more about the April 2021 IR35 legislation changes here: Contractor Umbrella IR35 Advice Hub.
You may also like to read: