Contractor take home pay & expenses calculator

Want to know how much you could earn as a contractor? Of course you do! Simple complete the form and we’ll be in touch to provide you with a personalised calculation based on your circumstances.

Request your personalised calculation



One of the benefits you’ll enjoy as a contractor or freelancer is the opportunity to claim legitimate business expenses and costs.

When you submit an expenses claim with Parasol, we may be able to deduct them from our invoice (the money we receive from the agency) before tax and reimburse them back to you – enhancing your income.

The types of expenses you can claim tax-free can change based upon different assignments, please see our business costs and expense guide for more information.

Use our annual salary and hourly rate calculators

If you’re unsure of how much you should charge as your hourly rate as a contractor, our hourly rate calculator can help. Simply tell us how many hours you work and what your desired annual salary would be and our calculator will do the sums for you.

Already know your hourly rate? If you’ve already decided how much to charge as your hourly rate and want to find out how much this equates to each year, head over to our annual salary calculator to see what your yearly salary could be.

Why Parasol Group?

Support that's second to none

With hundreds of expert head office staff, we are passionate about excellent support and dedicated to ensuring you always get paid on time and in full.

And, after all these years, we know all legislative and compliance regulations inside out.

Don't just take our word for it

We partner with over 3,000 recruitment agencies, including leading companies like Hays, Search, Venn and Reed, all of whom trust us implicitly with the contractors they refer to us.

Benefits included as standard

Relax knowing you’re covered for up to £20 million of insurance including employer’s liability, professional indemnity and public liability.

Plus, make significant savings with some of the biggest names on the high street through our dedicated rewards platform.

Set up in under 10 minutes

With all the right information from you and your agency, you can be up and running in under 10 minutes.

The Benefits of Using an Umbrella Company

There are a variety of benefits to joining an umbrella company. You will enjoy the same protections and benefits as any other employee but have the freedom of being a contractor.

Reduced Stress

Setting up as a limited company is widely considered to be the most tax-efficient way of working. You can take earnings from the business as a combination of salary and dividends – reducing your overall tax liability.

Financial Support

Benefit from the advice of qualified experts to ensure you're ensuring you and your family are covered through pensions, government schemes and insurances

Simplicity

Never miss out on claiming back expenditures you make for your business by understanding everything that you can and can't claim for.

Flexibility

Having that Limited (LTD) next to your name affords you a level of respect and opens your business opportunity pool for who can/will work with you. Plus, helps when it comes to your exit strategy

How it works

Signing up to be a Parasol employee could not be simpler. Our standard joining process is designed to be straight forward ensuring minimal disruption.

Get in touch with a member of our specialist Best Advice team who’ll talk you through how we work and ask you to complete our set up form with some basic information.

Have your ID ready and we’ll coordinate all onboarding information and send you an assignment schedule and contract of employment for you to sign.

Once signed, you are fully employed by Parasol and ready to be paid.