£475 a day take-home pay
A £475/day contract is worth about £104,500 a year over 220 billable days. Here is roughly what you keep under each IR35 status for 2025/26 — and you can fine-tune every assumption below.
| Day rate | £475 |
| Billable days assumed | 220 |
| Gross annual contract value | £104,500 |
| Take-home — inside IR35 (umbrella) | £62,833 |
| Take-home — outside IR35 (limited) | £68,734 |
| Difference | £5,902 |
At £475/day, Outside IR35 (limited company) leaves you £5,902/year better off.
Adjust the numbers
Change days worked, salary, expenses or umbrella margin to match your situation.
Inside IR35 (umbrella)
£62,833/yr
You keep 60% of the contract value
Assignment rate£104,500
Umbrella margin-£1,150
Employer NI-£12,769
Apprenticeship levy-£451
Income tax (PAYE)-£23,484
Employee NI-£3,813
Take-home pay£62,833
Outside IR35 (limited company)
£68,734/yr
You keep 66% of the contract value
Company revenue£104,500
Director salary-£12,570
Employer NI on salary-£1,136
Corporation tax-£20,311
Dividend tax-£14,320
Income tax + NI on salary-£0
Take-home pay£68,734
Outside IR35 (limited company) leaves you £5,902/year better off at this rate.