£925 a day take-home pay
A £925/day contract is worth about £203,500 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 | £925 |
| Billable days assumed | 220 |
| Gross annual contract value | £203,500 |
| Take-home — inside IR35 (umbrella) | £104,984 |
| Take-home — outside IR35 (limited) | £112,081 |
| Difference | £7,097 |
At £925/day, Outside IR35 (limited company) leaves you £7,097/year better off.
Adjust the numbers
Change days worked, salary, expenses or umbrella margin to match your situation.
Inside IR35 (umbrella)
£104,984/yr
You keep 52% of the contract value
Assignment rate£203,500
Umbrella margin-£1,150
Employer NI-£25,627
Apprenticeship levy-£879
Income tax (PAYE)-£65,333
Employee NI-£5,527
Take-home pay£104,984
Outside IR35 (limited company)
£112,081/yr
You keep 55% of the contract value
Company revenue£203,500
Director salary-£12,570
Employer NI on salary-£1,136
Corporation tax-£46,546
Dividend tax-£43,738
Income tax + NI on salary-£0
Take-home pay£112,081
Outside IR35 (limited company) leaves you £7,097/year better off at this rate.