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A leading UK website for contractors and freelancers | Updated:Wed, 27 Aug 2008, 19:43 GMT

New calculator: contractor pension calculator

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We are pleased to announce the release of the Contractor Pension Calculator.

  • Calculate the benefits of a contractor pension.
  • Up to 48% tax relief for contractors.
  • Convert your taxes to income and reduce the pain of IR35.

Just enter your hourly rate, ir35 status and age and we will do the rest.

Example:

Rate: £40 per hour; inside IR35; age 30

Results:

  • The tax man will fund up to 48% of a pension for you!
  • Your current monthly net pay is £3,056, and taxes are £1,918.
  • You can efficiently contribute up to £635 per month into a pension, of which the tax man pays £303.
  • For each £100 contributed, your take home pay only reduces by £52. The tax man pays the rest!
  • Since you are caught by IR35 you can take maximum advantage of pensions.

Do a personalised calculation using the Contractor Pension Calculator.


Published: Monday, July 12, 2004

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