Day Rate Calculator 2026/27
Convert between day rate and annual salary. See your equivalent take-home as a contractor vs PAYE employee.
Annual Equivalent
£115,000
gross
Day Rate
£500.00
5d × 46wk
Monthly
£9,583
gross
Hourly
£55.29
8hr day, 52wk
Ltd Company (Outside IR35)
37.0% rate£72,418
£6,035/month
Optimal £12,570 salary + all dividends. No expenses.
PAYE Employee
32.8% rate£77,257
£6,438/month
Income tax + employee NI only.
Ltd Co advantage: -£4,839/year (-£403/month)
Hourly rate assumes 8-hour days, 52 weeks. Take-home figures are estimates based on 2026/27 tax rates.