Contractor take-home pay
and expenses calculator
Calculate your Calculations are examples based on a series of assumptions
ASSUMPTIONS
GENERAL:
Based on rates and thresholds for 2025/26.
Assumes 12 months worked post 6th April 2025
No income from other sources in the tax year
Working 40 hours per week over 52 weeks
28 days holiday per year
1257L tax code
UMBRELLA
You are not subject to SDC
Includes Parasol umbrella solution margin - £15 average
Holiday pay is paid in advance of taking any annual leave
Pension is not taken into account
No expenses can be claimed.
LIMITED
Assignments are not subject to IR35
Includes flat rate VAT benefit for the first year at 15.5%.
Director's fee of £229 per week
Includes Caroola Accountancy fee of £135 per month
Claiming £265 expenses per week
Claiming 200 business miles per week
Umbrella
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What's included?
- Dedicated support team. You're never on your own. Our team of experts are here to help.
- Workplace pensions. Plan for your future. We can pay into any pension provider of your choice.
- Employee holiday pay. Get paid for 28 days a year, not everyone self-employed can say that.
- £20m insurance cover. We make sure you're protected from the unexpected.
- Statutory payments. Expected or unexpected absences paid. Sick pay, paternity pay, etc.
- £1,200 savings a year. Huge savings to be made every year with Caroola Rewards.
- Access to MyParasol. No waiting in call queues, manage your entire employment with us online.
Umbrella+
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What's included?
Everything included in Umbrella, PLUS:
- Employee assistance. Wellbeing support, including counselling and CBT.
- Tax return sorted. Stress-free tax returns with an accredited accountant.
- Discount fuel card. Save money when refueling your car with discounted fuel.
- £1,800 savings a year. Even more savings to be made every year when you choose Umbrella+.
- Personal accident cover. Provides coverage for work-related and commuting accidents.
- 24/7 medical care. For you, your partner and your children (aged under 18 or aged under 23 if in full-time education).
How it works
Joining
Working
Payment
Let's talk.
Interested in finding out more about becoming a Parasol employee? Or have a question for the team?
Here's how you can get in touch.
Already a Parasol employee and looking for support?
Contact Employee Support: 01925 644 860
