Contractor Calculator Assumptions

  • Working 40 hours per week over 52 weeks
  • 18/19 tax and NIC rates
  • There is no additional income from any other sources
  • Full employee personal allowance per year (tax code 1185L)

Limited Calculation

  • Flat rate scheme for VAT with first year discount applied
  • Claiming average expenses for an employee working and staying away from home of £362.53 per week
  • Business mileage at 45p per mile for the first 10,000 miles per annum and 25p per mile thereafter
  • Assignments outside IR35
  • Directors wage for the year £8,164
  • Accountancy fees based on our Orange Genie Professional package at £120 plus VAT
  • One owner/director involved in the company

Umbrella Calculation

  • Expenses £250 per week
  • Umbrella margin £20 
  • Not under SDC

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