A leading IT Contractor site has launched a new ‘calculator’ tool – the Managed Service Company Legislation Calculator - to help UK contractors work out whether they will be affected by forthcoming changes to tax legislation due to be announced in the Budget today.

Although they may not come as a surprise to the tax savvy contractor, many lesser informed contractors could be dramatically affected without even being made aware of the effects of this new legislation.

“The recent attack on contractors by the Treasury will result in a huge loss of income for many contractors who do not prepare themselves for the impending changes in April,” says Dave Chaplin, CEO of Contractor Calculator.

When contractors visit the calculator at ContractorCalculator’s web site here and enter their contract details they’ll be able to find out straightaway if they are affected by the forthcoming legislation. This simple calculator will tell you if you are caught, what the financial impact will be, and what action you must take to avoid any reduction in pay.