Calculator Assumptions

  • Working 40 hours per week over 52 weeks
  • 17/18 tax and NIC rates
  • No additional personal income from any other sources
  • Full personal allowance per year (tax code 1150L)
  • Limited Cost Trader Flat rate scheme for VAT, with first year discount factored in
  • Claiming average daily expenses of 5% of day rate
  • Contracts outside IR35
  • Directors salary for the year of £8,160
  • One director/shareholder involved in the company