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

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