Tax Calculator 2016
The purpose of this calculator is to give you an approximation of your MONTHLY take home pay.
Please enter the average number of days you will work per month i.e. 20 days
This calculator will apply one months tax credits to your days worked.
Do not enter the number of days you expect to work over the entire course of the contract.
This will then allow you to compare your monthly Take Home pay as a Contractor to your current salary as an Employee.
Input your business expenses and show how they affect your net Pay as a Contractor.
|PLC / SMS / Director Umbrella||PAYE Umbrella||Employee|
|No of Days:|
|Gross Income:||0 EUR||0 EUR|
|Employer PRSI:||0 EUR|
|Taxable Income:||0 EUR||0 EUR||0 EUR|
|Taxable 20%:||0 EUR||0 EUR||0 EUR|
|Taxable 40%:||0 EUR||0 EUR||0 EUR|
|Tax value 20%:||0 EUR||0 EUR||0 EUR|
|Tax value 40%:||0 EUR||0 EUR||0 EUR|
|Less Married/Single Tax Credits:||0 EUR||0 EUR||0 EUR|
|Less Additional Tax Credits:||EUR||EUR||EUR|
|Paye Due:||0 EUR||0 EUR||0 EUR|
|PRSI:||0 EUR||0 EUR||0 EUR|
|USC:||0 EUR||0 EUR||0 EUR|
|PRSI & USC:||0 EUR||0 EUR||0 EUR|
|Net Pay:||0 EUR||0 EUR||0 EUR|
|Expenses Refunded:||0 EUR||0 EUR||0 EUR|
|Net Payment to Contractor:||0 EUR||0 EUR||0 EUR|
|Retention Rate:||0 %||0 %||0 %|
This is a guide only and Icon Accounting can not be responsible for the accuracy of the information
How it Works
- Enter your daily rate of pay in Column 1 & 2
- Enter number of days worked
- Enter your Business Expenses in Allowable Expenses Field
- Enter your current Annual Salary in Column 3
- Now pick your marital status from Drop Down
- Input your additional Monthly tax credits. e.g. Rent Tax Credit
- Now check your Net take home pay to see how you compare