Originally posted by GhostofTarbera
View Post
Quantifying it a bit (for a 5 day week):
- Dec 2018, Sapphire DNP, £200/day. Take home pay was £657/£1000 = 65%. (No pension contributions.)
- Jun 2019, Contractor Umbrella, £300/day. Take home pay was £961/£1500 = 64% (no pension contributions).
- Jan 2020, Contractor Umbrella, £300/day. Take home pay was £844/£1500 = 56% (with pension contributions).
- Apr 2020, NASA Umbrella, £280/day. Take home pay was £835/£1400 = 60% (no pension contributions).
- Sep 2020, NASA Umbrella, £280/day. Take home pay was £798/£1400 = 57% (with pension contributions).
I got a tax rebate for the past 2 financial years (partly due to a few months on the bench), so Sapphire and Contractor Umbrella definitely weren't underestimating the PAYE. Maybe that would be different if you're earning all year round, but that seems optimistic in the current climate!
Leave a comment: