Contractor Day Rate Calculator (UK)
Turn a day rate into yearly and monthly income for contractors in the UK and Europe.
Yearly income before tax
Monthly income
Equivalent hourly rate (8-hour day)
The formula
Yearly income = day rate x days per week x weeks worked. Contractors usually work fewer than 52 weeks because of holidays, sickness and gaps between contracts.
Example: a 400 day rate over 46 weeks at 5 days is 92,000 a year, or about 7,667 a month before tax and costs.
Frequently asked questions
Is this take-home pay?
No. Tax, National Insurance or social charges and business costs come off.
How many weeks should I use?
Many contractors plan for 44 to 48 weeks.
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Last updated October 2026. For information only, not financial advice.