Ireland Contractor Take-Home Calculator 2026 (Day Rate)
Irish IT, engineering and professional contractors who know a day rate and roughly how many days they will bill, and want their annual net take-home for 2026. They are deciding between running through their own personal limited company as a proprietary director (Class S PRSI) and being paid by an umbrella company as a PAYE employee (Class A PRSI), and want to see the real cash difference after income tax, USC, PRSI, employer PRSI and the umbrella margin.
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Result
Worked example
Contractor on 600/day billing 220 days = 132,000 gross income (2026, single).
Route A: Personal limited company (Class S director, full amount as salary)
- Salary = 132,000 (no corporation tax, no employer PRSI).
- Income tax: 20% x 44,000 = 8,800; 40% x (132,000 - 44,000) = 40% x 88,000 = 35,200; gross tax 44,000, less 4,000 credits = 40,000.00
- USC: 0.5% x 12,012 = 60.06; 2% x 16,688 = 333.76; 3% x 41,344 = 1,240.32; 8% x (132,000 - 70,044) = 8% x 61,956 = 4,956.48; plus 3% surcharge on (132,000 - 100,000) = 960.00. USC = 7,550.62
- PRSI Class S: 4.2375% x 132,000 = 5,593.50
- Take-home = 132,000 - 40,000 - 7,550.62 - 5,593.50 = 78,855.88
Route B: Umbrella / PAYE (margin 100/month = 1,200/year)
- Pot after margin: 132,000 - 1,200 = 130,800
- Gross pay: 130,800 / 1.112875 = 117,533.42; employer PRSI = 130,800 - 117,533.42 = 13,266.58 (checks back to 130,800)
- Income tax: 20% x 44,000 = 8,800; 40% x (117,533.42 - 44,000) = 40% x 73,533.42 = 29,413.37; gross tax 38,213.37, less 4,000 credits = 34,213.37
- USC: 60.06 + 333.76 + 1,240.32 + 8% x (117,533.42 - 70,044) = 60.06 + 333.76 + 1,240.32 + 3,799.15 = 5,433.29
- Employee PRSI Class A: 4.2375% x 117,533.42 = 4,980.73
- Take-home = 117,533.42 - 34,213.37 - 5,433.29 - 4,980.73 = 72,906.03
Result: the personal limited company nets about 5,950 more a year here (78,856 vs 72,906), driven almost entirely by the umbrella's 13,267 of employer PRSI and 1,200 margin. Against that, weigh company accountancy and filing costs of roughly 1,200 to 2,500 a year.
Personal limited company vs umbrella: why the same rate pays differently
Two contractors on an identical 600 day rate can finish the year several thousand euro apart, purely because of how they are paid. Through a personal limited company you are usually a proprietary director on PRSI Class S. If you draw all of the company's income as salary, there is no corporation tax on retained profit and, crucially, no employer PRSI on your pay. Your salary is then taxed like any income: 20% and 40% income tax, USC, and Class S PRSI at a blended 4.2375% for 2026.
Through an umbrella company you are a PAYE employee on Class A. The umbrella must pay employer PRSI on your salary, and because your assignment rate is the total cost to them, that employer PRSI (the higher rate is 11.25% for 2026, rising to 11.40% from October) is effectively taken out of your rate before your gross pay is even set. Add the umbrella's weekly or monthly margin and you can see why umbrella take-home is normally lower on the same headline rate.
The PRSI difference is the heart of the comparison
Income tax and USC are almost identical on both routes for a single person, and the tax credits net out the same: 2,000 personal plus either the 2,000 Earned Income Credit (limited company director) or the 2,000 Employee/PAYE Credit (umbrella), so 4,000 either way. What really moves the result is PRSI.
A Class S director pays only employee-style PRSI at 4.2375% and the company pays nothing on top. An umbrella worker pays the same 4.2375% as an employee, but the umbrella also funds employer PRSI at 11.2875% (blended for 2026) from the assignment rate. On a 130,000-ish salary that is well over 13,000 of employer PRSI that never reaches your pocket. That single item is usually the biggest reason the limited company nets more, before you even count the umbrella margin.
The 2026 figures that drive your result
All the key numbers are set by Budget 2026. Income tax is 20% up to 44,000 for a single person and 40% on the balance. USC runs 0.5% / 2% / 3% / 8% with the 2% band now reaching 28,700, and self-employment income above 100,000 carries an extra 3% USC surcharge (11% top rate on that slice), which can apply to a proprietary director but not to an umbrella employee.
PRSI is mid-year in 2026: Class S and employee Class A are 4.2% to 30 September and 4.35% from 1 October, which Revenue blends to 4.2375% across the year. The higher employer Class A rate is 11.25% to 30 September and 11.40% from 1 October, a blend of 11.2875%. Note that the 11.15% employer rate still quoted in some 2025 sources is out of date for 2026. The Class S minimum contribution is 650.
What this calculator does and does not include
The tool converts your day rate and billable days into an annual figure, then applies verified 2026 rates for income tax, USC and both classes of PRSI. For the limited company it assumes a single proprietary director who draws all company income as salary in the year, so there is no corporation tax and no retained profit. For the umbrella it grosses down the assignment rate to fund employer PRSI and any margin before running PAYE.
It does not model: pension contributions (which can sharply cut tax on both routes), retaining profit in the company and paying 12.5% corporation tax on it, VAT, allowable business expenses beyond salary, the small benefit exemption, or a married or jointly assessed position with a wider 20% band. Treat the output as a grounded estimate for comparing offers, and confirm your own position with an accountant before choosing a structure.
Frequently asked questions
How much take-home do I keep on a 600 day rate in Ireland for 2026?
On 600 a day over 220 billable days (132,000 gross), a single proprietary director of a personal limited company nets about 78,856, while an umbrella worker nets about 72,906 after a 1,200 margin. Fewer billable days or pension contributions change these figures.
Why does the umbrella net less than my own company?
The umbrella funds employer PRSI (the higher rate is 11.25% for 2026, blending to 11.2875% over the year) plus its margin out of your assignment rate before your gross pay is set. A Class S company director pays no employer PRSI, so on the same rate the company route usually keeps several thousand euro more.
What is the PRSI rate for a contractor in 2026?
A self-employed person or proprietary director pays PRSI Class S at 4.2% to 30 September 2026 and 4.35% from 1 October, which Revenue blends to 4.2375% for the full year, with a minimum contribution of 650. An umbrella employee pays the same 4.2375% employee Class A rate, plus employer PRSI on top funded from the rate.
Do I pay the 3% USC surcharge as a contractor?
If you are self-employed or a proprietary director and your self-employment income is above 100,000, yes: an extra 3% USC applies on the amount over 100,000, giving an 11% top USC rate on that slice. An umbrella (PAYE) worker does not pay this surcharge.
What tax credits does a contractor get in 2026?
A single contractor gets the 2,000 personal tax credit plus a 2,000 earned-income credit as a proprietary director, or the 2,000 employee (PAYE) credit as an umbrella worker. Either way that is 4,000 of credits set against income tax, so credits do not explain the gap between the two routes.
Should I retain profit in my company instead of drawing it all as salary?
This calculator assumes you draw everything as salary in the year. In practice a limited company can retain profit and pay 12.5% corporation tax on it, deferring personal tax, which can beat drawing it all. That is a more advanced plan best modelled with an accountant, and it is not included here.