Contractor take home pay & expenses calculator

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

Request your personalised calculation

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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

Parasol wants to make your business as easy to manage as possible. When you join, there’s no daily admin to agonise over – you can simply submit your timesheet each week via MyParasol, our easy-to-use online portal, and we’ll take care of the rest.

Financial Support

All of your finances are managed on your behalf and taxes will automatically be deducted for you, so there will be no nasty surprises. Working as an umbrella employee also means that IR35 will not be relevant to you which is a great relief for many contractors.


Your payslip will show a breakdown of the money you have earned and any deductions taken for tax. All of the deductions will be clearly displayed on your statement and your wages will be paid directly into your bank account.


New to contracting? Working with an umbrella company is a great way to test the contracting life without the financial demands of running your own limited company. Being a Parasol employee is also an ideal solution if you are working shorter contracts or are in between permanent work.

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.