How much will I save if I set up a limited company as a contractor?

For all limited companies, corporation tax is 20%, compared to the 20-45% that an individual would pay. By setting up as a limited company, you could reduce your Income tax and National Insurance Contributions (NIC) resulting in higher take-home pay. Our tax saving calculator will help you compare the amount of tax payable on your estimated earnings and see which option is best for you.