What is Contractor Calculator?
Effortlessly calculate your earnings, taxes, and take-home pay with ease. Input your rates and essential details to get instant insights into your financial breakdown. This calculator is aimed at outside IR35 contractors, umbrella calculations coming soon.
Problem
Contractors manually calculate earnings, taxes, and take-home pay using spreadsheets or generic tools, leading to time-consuming processes and potential errors in understanding complex tax regulations like IR35.
Solution
A web-based contractor financial calculator tool that automates earnings, tax deductions, and net pay calculations. Users input rates, expenses, and tax details to receive instant financial breakdowns tailored to outside IR35 contractors.
Customers
Freelancers, independent contractors, and self-employed professionals (e.g., IT consultants, engineers) in the UK who need precise financial insights for gig economy work.
Unique Features
Specialized focus on IR35 compliance, real-time tax simulations, and upcoming umbrella company calculations unavailable in generic finance tools.
User Comments
Simplifies tax compliance
Accurate take-home pay estimates
Saves hours of manual calculations
User-friendly interface
Awaiting umbrella company feature
Traction
Launched on ProductHunt in 2024, with upcoming features (umbrella calculations) noted in product description. Specific traction metrics (users, revenue) not publicly disclosed.
Market Size
The UK freelance/gig economy contributes £125 billion annually, with over 4.3 million self-employed workers (2023 data).
