New take home calculator

[tom at seamless]

Hey.

Probably not the best timing I know, but I have put together a take home calculator so if anyone finds themselves with some free time I'd really appreciate some feedback.

https://seamless.tax/contractor-tax-calculator

It's pretty flexible in terms of letting you vary the inputs, and caters for both outside and inside IR35 (private and public sector) contracts. All the tax calculations can be drilled down on to see on what basis they are calculated - so let me know if I've got anything wrong!

Many thanks
Tom

[Old Greg]

Hey.

Probably not the best timing I know, but I have put together a take home calculator so if anyone finds themselves with some free time I'd really appreciate some feedback.

https://seamless.tax/contractor-tax-calculator

It's pretty flexible in terms of letting you vary the inputs, and caters for both outside and inside IR35 (private and public sector) contracts. All the tax calculations can be drilled down on to see on what basis they are calculated - so let me know if I've got anything wrong!

Many thanks
Tom

Company income maxes at 100k??? I stopped there. I would lose the pennies as well. Too much screen clutter.

Also, you enter your company income without tax, then the display below adds 20% VAT but neither of these are marked as inc. / ex VAT.

[malvolio]

CT at 15%? Or is that a net figure after business expenses?

Far easier to add your personal tax code and work from there, I would have thought. Otherwise you will be guessing on next year's income.

Something to add in number of weeks worked? We don't all work 52 weeks a year, after all: my average over 20-odd years was 32...

[tom at seamless]

Company income maxes at 100k??? I stopped there. I would lose the pennies as well. Too much screen clutter.

Hi,

100k is the limit of the slider, but you can type any value you want manually (in either the slider field or the under company income > sales). I kept the limit of all the sliders to 100k because the other fields are lower values so with a bigger scale they'll lose their context a bit, but am happy to take feedback on that.

[Old Greg]

Hi,

100k is the limit of the slider, but you can type any value you want manually (in either the slider field or the under company income > sales). I kept the limit of all the sliders to 100k because the other fields are lower values so with a bigger scale they'll lose their context a bit, but am happy to take feedback on that.

100k is approx. 450 pd, so it misses a lot of people. 200k should catch most people and then with the option as you say to type in a larger amount.

[northernladuk]

100k is approx. 450 pd, so it misses a lot of people. 200k should catch most people and then with the option as you say to type in a larger amount.

No good to me unless you double that.

[tom at seamless]

CT at 15%? Or is that a net figure after business expenses?

Far easier to add your personal tax code and work from there, I would have thought. Otherwise you will be guessing on next year's income.

Something to add in number of weeks worked? We don't all work 52 weeks a year, after all: my average over 20-odd years was 32...

Hi,

CT is 19% for 20/21. If you expand the section and drill down you'll be able to see how it's calculated.

The tax code can be edited under the settings (three dots), but only comes in to play when comparing the amount collected via tax code to the actual liability for the year (you can see this under personal taxes).

The sales edit forms under company income will allow you to edit the days/weeks/hours.

Many thanks

[WordIsBond]

Hi,

100k is the limit of the slider, but you can type any value you want manually (in either the slider field or the under company income > sales). I kept the limit of all the sliders to 100k because the other fields are lower values so with a bigger scale they'll lose their context a bit, but am happy to take feedback on that.

You got feedback on it already. Here's more.

Maybe most people here aren't making more than £500 / day but some are and £500 / day breaches £100K at 200 days. If someone is on £600, that's only 166 days of work. A few are on £100 / hour, maybe more.

Bump it to £120K, at least. Probably £150K.

[tom at seamless]

100k is approx. 450 pd, so it misses a lot of people. 200k should catch most people and then with the option as you say to type in a larger amount.

Fair, thanks.

[jamesbrown]

Makes an inviolable assumption about VAT, which is obviously useless if your supplies are mostly out-of-scope.