Contractor tax

Estimate contractor take-home from a day rate.

Model company revenue, expenses, corporation tax, dividends and personal income after tax.

Limited company estimate

Scenario

Work and rate

Tax year

Daily rate

Weeks worked

weeks

240 billable days per year.

Expenses

Daily

Monthly

Yearly

Pay split

Salary

Dividends

£64,505

Dividends are calculated automatically from remaining company profit after salary, expenses and corporation tax.

YearlyMonthly

Income£96,000£8,000

Expense£4,500£375

Salary£8,840£736.67

Employer NI£576£48

Corp tax£18,154.9£1,512.91

Net£64,505.1£5,375.43

YearlyMonthly

Salary£8,840£736.67

Dividends£64,505£5,375.42

Income before tax£73,345£6,112.08

Salary tax£0£0

Salary NI£0£0

Dividends tax£11,042.81£920.23

Salary after tax£8,840£736.67

Dividends taxed£53,462.19£4,455.18

Income after tax£62,302.19£5,191.85

Breakdown