Free tool
Day Rate to Take-Home Pay Calculator
Turn your contract day rate into estimated annual and monthly take-home pay after Income Tax and National Insurance, as a UK self-employed sole trader.
Estimated annual take-home
£0.00
Assumes you work as a self-employed sole trader (not via an umbrella company or inside IR35). Pension contributions and student loan repayments are not included.
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Frequently asked questions
How do I work out annual income from a day rate?
Multiply your day rate by the days you work per week and the number of weeks you work per year. For example, £350 × 5 days × 46 weeks = £80,500 gross. Allowing for holidays and gaps between contracts, many people use 44–46 working weeks.
How much tax will I pay on a day rate?
As a self-employed sole trader you pay Income Tax (20%/40%/45% bands above the £12,570 Personal Allowance) plus Class 4 National Insurance (6% then 2%). This calculator applies the 2025/26 bands to your gross income minus expenses.
Is this calculator for inside or outside IR35?
It estimates take-home for a self-employed sole trader (outside IR35, not using an umbrella company). If you work inside IR35 or through an umbrella, your deductions will differ — typically lower take-home.
How many weeks should I count?
It depends on holidays, sick days and gaps between contracts. A full-time employee works around 46–48 weeks after holiday; contractors often budget more conservatively at 44–46 to allow for downtime.
Know exactly what you earned
FTrak tracks your billable days, expenses and mileage so your real take-home is always clear — and self-assessment is painless.
Start your free trialEstimates are for guidance only and are not tax advice. Figures use 2025/26 rates for England, Wales & Northern Ireland. Confirm with HMRC or an accountant.