IR35 Calculator

Whilst searching the Internet, you may find several types of IR35 calculators which will tell you your recommended take home pay when working inside or outside IR35.

Some will ask you to simply enter your daily/hourly rate along with whether you work inside or outside IR35, whereas others like the HM Revenue and Customs calculator, works out how much you need to pay to the Revenue if your contract falls inside IR35. HMRC’s ‘IR35 Status check tool’ can be found here: https://www.gov.uk/guidance/check-employment-status-for-tax

The issue with using an online IR35 calculator is that no two contracts are the same, which makes it near impossible to get an accurate calculation. Also calculating take home pay whether you are inside or outside IR35 is quite complicated and very much dependent on quite a few variables which even include your short, medium and long term business goals and aspirations never mind your daily rate, approximate expenses, attitude to pensions or likely capital purchases.

IR35 Download Guide

We provide a handy contractor calculator which will help you tounderstand roughly how much your take home could be given a specific daily rate. However for a more detailed understand of the complexities on how to set up a Limited company, start contracting or managing your own Limited company it’s best to speak to an expert (we are of course very happy to help just call our new business team on 01442 275789 or email newbusiness@sjdaccountancy.com).

This page will give you a broad idea of what happens if your contract is inside IR35 along with the implications of how your take home pay is affected. It includes things like how the The Flat Rate VAT scheme works and benefits contractor, what expenses can be claimed, special schemes you can still take advantage of such as such as use of home, cycle to work schemes, childcare vouchers and annual party allowances plus and it might not seem much now what with interest rates being so low but interest on your business bank account.

SJD Accountancy has a wealth of knowledge in reviewing contracts for their IR35 status and can offer a free verbal IR35 contract review. If you would like us to review your contract and day to day practices or at all worried by IR35 please call our IR35 specialists on 01442 275789 or email newbusiness@sjdaccountancy.com. Or for a more detailed written review please visit this page ‘IR35 contract review’.

You may also find our IR35 Business Entity Tests page helpful.

 

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SJD Accountancy

SJD Accountancy are the UK's largest specialist provider of fixed fee, Limited company accountancy services to contractors; we've been acting for contractors across the UK since 1992 and have more than 15,000 clients.

We are the only national specialist firm of contractor accountants with offices nationwide. SJD Accountancy has more qualified staff than any other firm in our market with qualifications from the following major tax and accountancy bodies - ATT, AAT, CTA, ACCA, CA, ACA and FCCA.

  • Unlimited face to face meetings. This is a unique service only SJD Accountancy offers - unlimited face to face meetings across the UK - tax is complicated and sometimes only a meeting will do.
  • UK's largest contractor accountants with more qualified staff. No call centres, no outsourcing, no automated call handling. Simply telephone, email or meet your own dedicated accountant face to face.
  • Money back service guarantee. All your Emails received by 4pm on any normal working day will be answered the same day. Should it be necessary to leave a telephone message it will be answered same day/following day latest or we will make a full refund of that months fee.
  • Outstanding reputation. We have won more awards for customer service and accountancy excellence than any other firm in our market, including: Best Accountant for Contractors, Accountant of the Year and Best Professional Service Team to name just a few.
  • All inclusive low cost fixed fee accountancy package which includes completion of accounts*, payroll bureau, dividends and corporation tax computations, personal taxation, free bookkeeping software, your own dedicated accountant* and all company returns for a fixed fee starting from £120 plus VAT per month. Check our packages for more detail.

If you have any questions about contracting or would like any further advice please call our new business team on 01442 275789 or email: newbusiness@sjdaccountancy.com. Our new business team is open Monday to Thursday (8am to 8pm), Friday (8am to 7pm) and Saturday (10am to 4pm)

Appoint SJD Accountancy and never worry about your tax or accountancy affairs again.

Form your own limited company with SJD - our same day online company formation service includes company bank account set up, VAT/PAYE registration and advice on optimum share structure. 

You may also find the following pages, guides and case studies useful:

*If you would like us to complete your company year end accounts we simply ask that you have been a client of SJD for one year or have made 12 monthly payments. All accountants are part or fully qualified.