Calculator Assumptions

Umbrella calculation

  • Figures are based on 2022/23 rates
  • No Supervision, Direction or Control (SDC) on any assignment during the tax year
  • Holiday pay is advanced
  • Contractor Umbrella’s margin is included in this calculation
  • These calculations are inclusive of the new NI thresholds due to come into force on 6th July 2022.

Limited calculation

  • Limited Cost Trader Flat rate scheme for VAT, with first year discount factored in
  • Contracts outside IR35
  • Directors salary for the year of £8,844.00
  • One director/shareholder involved in the company

Both calculations

  • Working 40 hours per week over 52 weeks
  • 21/22 tax and NIC rates
  • No additional personal income from any other sources
  • Full personal allowance per year (tax code 1257L)
  • You have no earnings from other sources this tax year