How do you calculate IR35 take home pay when calculators contradict each other?

[Protagoras]

My calculations are on £450 per day, inside IR35, you get £102k take home (assuming 228 days per year). And on that, around £28k personal tax and £6k employee NI. Meaning a take-home of £68k or £5.6k per month.

Have I got it right?

There needs to be at least an assumption about how much you're allowing for pension contributions.

If you want a good basis of estimate, I'd suggest that you ask a well rated umbrella company for an illustration.

[DoctorStrangelove]

And maybe check which part of the forums you are posting in. As one glance will tell you there isn't a single professional post in the his section, for a good reason.

Along with which: do you like films about gladiators?

Have you bled the radiators?

[milanbenes]

now that I am back io contracting and living in the Euro zone with British and Euro passports, I can apply for these Hybrid contracts in the UK which are inside IR35 and since I am not in Blighty I can take an inside IR35 contract and don't have to be IR35 lol

how cool is that

Milan

Milan

[hugebrain]

Basically inside IR35 you pay less tax, but it’s all jam tomorrow.

For the first year you can pop 160,000 into your pension (more now?) so it’s not too bad, but then minimum wage just pays for your ISA and leaves you with nothing to live on. But the second year it starts to get crazy. You are faced with around 100 grand in tax which means you have to pop around 330,000 in your venture capital trust to stay paying zero income tax.

Big dent in your war chest. If you manage to survive 5 years then your venture capital trusts start paying out tons of tax-free lolly and everything is fine again. But I’d recommend not doing more than a couple of years in a row inside IR35, because you really have to live off your savings while you are doing it. So just keep looking for a proper contract while you suffer through the almost-permie phase.

[eek]

Gibberish with added implausible stupidity

FTFY

But let's do the calculation for the OP

Agency fee £450 * 228 = £102,680
Umbrella margin £1200
Apprenticeship Levy ~ £440
Employer NI ~ £12000

Gross pay ~ £89040

Gross Pay	100%	£89,040	£7,420	£1,712.31
Tax free allowance	14%	£12,579	£1,048.25	£241.90
Total taxable	85%	£76,461	£6,371.75	£1,470.40
Total Tax Due	25%	£23,044.40	£1,920.37	£443.16
20% rate	8%	£7,540	£628.33	£145
40% rate	17%	£15,504.40	£1,292.03	£298.16
45% rate	0%	£0	£0	£0
Student Loan	0%	£0	£0	£0
National Insurance	5%	£5,299.40	£441.62	£101.91
Total Deductions	31%	£28,343.80	£2,361.98	£545.07
Net Wage	68%	£60,696.20	£5,058.02	£1,167.23

From https://listentotaxman.com/?year=202...e=1&ingr=89040 for 2023/4