At the end of a contract many UK contractors opt to start looking for a better contract (sometimes even when in a contract), and at this time colleagues talk to one another, trying to get a better rate or income..
What comes up is that its popular to see how much take home pay you can garner when using a IT contractor tax calculator otherwise known as a contract calculator, in essence this is manually submitted and filled out by contractors and then it is sent to the various tax mitigation companies trusts and schemes to see what the best rate is on offer.
Below I have placed a link so that you may check out the rate on offer from contractor tax solutions, the service provider has been around since 2004, people signing with them tend to see an additional 2k per month in their bank account, that is based on the norm of 400 pounds per day,
To qualify you must be a contractor and not a paye, you need to also earn a minimum of 200 pounds an hour.
If you have any questions please click on the link above to to get more in depth information,
After having done extensive research on the tax scheme industry I know it like the back of my own hand, and there are all similarities in the way they work and the tax mitigation strategies they use to remain outside the current anti avoidance legislation..
amongst them are always people and solutions who lead the pack by innovating the newest strategies to keep contractors from paying too much tax, personally I think this is good for the economy as more wealth in peoples hands means it gets spent and stimulates the economy and the persons personal development if they are the type of contractor who likes to stay current and up to date with their skillset..