Set an hourly rate for freelance services.
An hourly rate has to recover both the income you want and the cost of running the business, spread across the hours you can actually charge for. That last figure is where rates go wrong: 25 chargeable hours in a working week is realistic once sales, admin and unpaid revisions are accounted for, whereas assuming 37.5 produces a rate about a third too low to fund the year.
Rate from target income
Revenue needed = target income + overheads; billable hours = working weeks x chargeable hours; hourly rate = revenue needed / billable hours
Rate arithmetic only. Tax, social contributions and business structure vary by jurisdiction and materially affect what a given rate leaves you. Consult an accountant.
Twenty to thirty for most independent service businesses. The remaining time goes on finding work, quoting, invoicing, admin and professional development, none of which a client pays for directly.
Before tax and before pension, which is what this field assumes. If you want to work back from take-home pay, gross the figure up for your effective tax rate first.
Roughly, but 7.5 is used here because a chargeable day rarely delivers eight productive hours. Some practitioners deliberately discount day rates slightly to reward longer bookings, which is a commercial choice rather than arithmetic.