Plan annual freelance income and expenses.
Freelance planning has to run backwards from take-home pay, because everything else sits on top of it. The target net is grossed up for tax, business expenses are added, and only then is the total divided by the days you can actually bill. The billable day count is where most plans go wrong: 180 days allows realistically for holiday, illness, admin and business development, whereas assuming 250 produces a day rate that cannot fund the year.
Day rate from target take-home
Pre-tax profit = target net / (1 - tax rate); gross revenue = pre-tax profit + expenses; day rate = gross revenue / billable days
Tax rates, allowances and social contribution rules vary by jurisdiction and by business structure. Use your own effective rate and consult an accountant before relying on these figures.
Between 160 and 200 for a full-time freelancer. From 260 weekdays, subtract leave and public holidays (about 35), illness (5), and time on admin, invoicing and finding work (40-60). Assuming more than 200 is the commonest planning error.
Because tax applies to profit, not to what you keep. Wanting 55,000 net at a 28 percent effective rate means earning 76,389 of profit before tax — dividing the other way understates the requirement substantially.
Yes. Moving the tax share into a separate account as each invoice is paid is what prevents the annual liability arriving as a shock, since freelance tax is typically paid long after the income is spent.