Contract offer: Good Calculator to use to calculate income with these details?

[TheFaQQer]

Sorry I am trying to make this as accurate as possible. Or should I change it to £500*260?

Those two sentences don't go together - if you want to make it as accurate as possible then you need to accurately assess how many days you are likely to work rather than assuming that you'll work 5 days a week, 52 weeks a year.

If you want accuracy, then you'll need to start by deducting the bank holidays. Then deduct the number of days holiday you plan to take. Then deduct the number of says that the client is unlikely to want you to work - over the next 6 months that number may well be different from the following 6 months, so you can't just assume that they will be the same. Deduct a couple of days for if you are likely to be unavoidably unable to work (how ill do you get? how ill does anyone in the family get? how will you get to work if the car breaks down or the roads are snow blocked? etc).

Once you have that reasonable guess, then you can start to calculate things - but it's not going to be accurate because lots of those are variables that you won't know about at this stage. And that's just the income - your expenses over the year will be hard to accurately assess at this stage.

So rather than looking for accuracy, look for an estimate that is based on reasonable expectations.

[WTFH]

H
Sorry I am trying to make this as accurate as possible. Or should I change it to £500*260?

This may give you an idea as to the number of billable days that contractors invoice in a year.
http://forums.contractoruk.com/gener...7-jan-dec.html

Aim for around 230 days and you might be close.
As well as your accountant, don't forget PI/PL insurance and the number of miles you are doing (it's not all 45ppm)

[Platypus]

I've used this calculator in the past to try to faff with perm vs. inside IR35 vs. outside IT35 calcs to compare net incomes

https://goodcalculators.com/contractor-calculators/

[LondonManc]

Those two sentences don't go together - if you want to make it as accurate as possible then you need to accurately assess how many days you are likely to work rather than assuming that you'll work 5 days a week, 52 weeks a year.

If you want accuracy, then you'll need to start by deducting the bank holidays. Then deduct the number of days holiday you plan to take. Then deduct the number of says that the client is unlikely to want you to work - over the next 6 months that number may well be different from the following 6 months, so you can't just assume that they will be the same. Deduct a couple of days for if you are likely to be unavoidably unable to work (how ill do you get? how ill does anyone in the family get? how will you get to work if the car breaks down or the roads are snow blocked? etc).

Once you have that reasonable guess, then you can start to calculate things - but it's not going to be accurate because lots of those are variables that you won't know about at this stage. And that's just the income - your expenses over the year will be hard to accurately assess at this stage.

So rather than looking for accuracy, look for an estimate that is based on reasonable expectations.

That's why I said build a spreadsheet.

You can then tie in expenses to multiples of days work (e.g. days * miles), while other costs are fixed - insurance is for a year, accountants, etc.

[HealthyProtein]

Yes definitely.