£675 a day take-home pay
A £675/day contract is worth about £148,500 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 | £675 |
| Billable days assumed | 220 |
| Gross annual contract value | £148,500 |
| Take-home — inside IR35 (umbrella) | £79,746 |
| Take-home — outside IR35 (limited) | £88,235 |
| Difference | £8,490 |
At £675/day, Outside IR35 (limited company) leaves you £8,490/year better off.
Adjust the numbers
Change days worked, salary, expenses or umbrella margin to match your situation.
Inside IR35 (umbrella)
£79,746/yr
You keep 54% of the contract value
Assignment rate£148,500
Umbrella margin-£1,150
Employer NI-£18,484
Apprenticeship levy-£641
Income tax (PAYE)-£43,904
Employee NI-£4,575
Take-home pay£79,746
Outside IR35 (limited company)
£88,235/yr
You keep 59% of the contract value
Company revenue£148,500
Director salary-£12,570
Employer NI on salary-£1,136
Corporation tax-£31,971
Dividend tax-£27,159
Income tax + NI on salary-£0
Take-home pay£88,235
Outside IR35 (limited company) leaves you £8,490/year better off at this rate.