Compare Limited Company vs Umbrella

Assumptions:

• Based on the tax rates applicable in 2022/23 and 44 working weeks in a year.
• Annual accountancy Fee is £1,200.
• No expenses are claimed through the company apart from salary of £12,570.
• The contract under limited company is not caught by IR35.
• Umbrella company charges a margin of £15 per week.
• Umbrella company does not process any expenses as the contractor is under Supervsion, Direction and Control of the client.

Disclaimer: The calculations are for illustrative purposes only. We will not accept any liability to any party on the results produced by the calculator. You should seek professional advice to calculate your tax liability.*