Calculating a Freelance Day rate from PAYE

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If love some assistance with this conundrum!
Just set up a Limited Company, 2 directors shareholders.
Leaving a paye position paying £55000 Gross.
33 days paid annual leave (inc. 8 bank hols) and 5k p.a paid travel expenses. Standard Nest Pension rates.
How do I go about calculating what the equivalent DAY rate is that I should be charging the new Client to equate to the same package I was receiving as an employee?
20% CIS deducted at source from Client.
Many Thanks.;)
Just set up a Limited Company, 2 directors shareholders.
Leaving a paye position paying £55000 Gross.
33 days paid annual leave (inc. 8 bank hols) and 5k p.a paid travel expenses. Standard Nest Pension rates.
How do I go about calculating what the equivalent DAY rate is that I should be charging the new Client to equate to the same package I was receiving as an employee?
20% CIS deducted at source from Client.
Many Thanks.;)
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[FONT=Verdana, sans-serif]£55,000 + NI say £5,500 + Pension say £1,650 + travel £5,000 + Office Accommodation? Say £5,000 + anything else you can think of = £72,150 call it £75,000.[/FONT]
[FONT=Verdana, sans-serif]£75,000 / 220 = £341 but call it £350 per day or £50 per hour.[/FONT]
From experience, it's more than you think it will be.
You need to charge enough to cover your costs (to the figures mentioned above, add the cost of an accountant, professional indemnity insurance, tools and equipment, mileage...), but if you charge too much you will price yourself out of the market.
What do other people in your industry charge? What does your accountant suggest? What figure does your business plan use? And where do you stand re IR35?
Thats pretty much it - i aim to be revenue earning for 45 weeks a year so roughly 220/225 days a year
Also running through a limited company would reduce the tax burden.
Also all your costs would come off your gross margin before tax.
I would say £65-70K all in which is around £300 a day.
From my perspective thats roughly my break even rate. The reality is though you pitch at what the market will pay which for most skilled contractor jobs is £400-500 a day.
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I charge £500, but haven't put my rates up for 3 years. Its still higher than contractor rates, but I have USP's and work with clients who know me.
Your'e aiming for a billable ratio of over 60%. If you factor in just 20 days holiday that jumps to over 65%, is that realistic for a director? I spend over 1/3 of my time on sales and aim to be 50% billable