Calculator Assumptions

  • Working 40 hours per week over 52 weeks
  • 18/19 tax and NIC rates
  • No additional personal income from any other sources
  • Full personal allowance per year (tax code 1185L)
  • Limited Cost Trader Flat rate scheme for VAT, with first year discount factored in
  • Claiming average daily expenses of 5% of day rate, including Accountancy Fees
  • Contracts outside IR35
  • Directors salary for the year of £8,424
  • One director/shareholder involved in the company