Hey guys I know your all guru's so hopefully you can help me out 😀

If I'm getting 17500 with all paye perks, holidays, sick ect what is the equivalent rate at freelance

As I know the company will save stamp duty, I'll have to pay vat and ni

They seem to think the day rate stays the same just before tax, which obviously it BULLSHIT!

can someone help me work it out please as maths isnt my strong point.

So I can work out…

28days holiday entitlement
3 days for sick?

but what tax and ni and stamp duty add's up to make my freelance rate?

Its a weird one as I'll be lancing for them often so the rate totally doesnt reflect my usual stuff as thats easy to work out, its just this i need to get my head around

please and thanks!

al

Approximately you're paid £ 336 per week of that approx 15 to 20% will be tax & Ni. In simple terms to cover your 6 weeks you need to be charging at least £380 per week.

However you need to take into account what other expenses you may incur eg accountant fees, hardware, tools, public liability insurance, phone etc that you need. Also how long are they going to give you a contract for- i take it they want to make you freelance so that they only have to 'pay per use' (no more holidays and sick pay) , so you need to forecast how many weeks work you are going to get from them.

I don't know what level of experience or industry you're in, but the going rate for freelancers is usually starts at £200 per day.

By being self employed you are saving them loads in holiday pay sick pay insurance costs etc all of which you will have to cover from now so you will need more gross salary than before or you will be seriously out of pocket.What business are you in?

times the basic salary by 2 to account for pension, your expenses, bonus and other benefits is a fairly reasonable rule, at a minimum I'd say 1.5 times

we work on a 3.5x FTE rate equiv.
Lots of extra expenses – accountant, computers, software, insurance, internet, phone, travel, health ins blah blah plus the wobble factor for 'risk' when they engage you for 1 days work every 5 months.
Can;t have their cake and scoff it all at once on a budget