What will you earn?

Setting a realistic rate

If you are trying to work out what hourly rate to set, this calculator from «ContractorCalculator» will help you to see your likely earnings at different hourly and daily rates.

Remember that you will have to pay taxes and national insurance out of your hourly rate. You should also allow for holiday pay, as you do not receive holiday pay for freelance contracts.

You must not set an hourly rate lower than the national minimum wage for adults – which is £5.80 per hour from 1 October 2009.

Umbrella or limited company?

The calculator shows you the difference in your take-home earnings, depending on whether you use an umbrella company or work through your own limited company.

Remember that you must be paid through a limited company – an umbrella company or your own limited company – for all your people4 contracts.

Last updated 28.09.09

Calculator

Rate	£
Rate Type	Hourly   Daily
Weekly Expenses	£
Weeks worked per year
How do you get paid?	Umbrella company	Powered by ContractorCalculator
	Limited company
	Don't know.