Umbrella Companies?
Discussion
and wont try and bend you over on fees.I have been forced down this path this month and am searching for a new contract.
In the mean time, I am through an umbrella company called Nasa.
They are charging me £17,50/week.
They seem a decent bunch but then my first pay packet isn't due till the end of this month.
As mentioned though, check the company don't want you to use a specific Company.
This all stinks to me.
In the mean time, I am through an umbrella company called Nasa.
They are charging me £17,50/week.
They seem a decent bunch but then my first pay packet isn't due till the end of this month.
As mentioned though, check the company don't want you to use a specific Company.
This all stinks to me.
Um So Called, sorry you may be in for a shock at end of the month, as for the OP do everything possible to ditch the umbrella co.
I've quoted these figures in a thread last year, the £17 fee is just the beginning.
You'll be deducted Employer NI at 13.8% as well as Employee NI, gap pay, apprentice levy, pension contribution & possibly pay your own holiday pay.
To put into context, on 1 job, I put £19422 19/20 tax year through an umbrella & only came out with £10769.
As my contract halted Apr 20 due to C19 they paid furlough 4 times until they had to contribute a %, P60 sent with no notice by email & my a/c user ID terminated.
Solution, find an agency that'll trust you to pay your tax/NI & get paid direct......... I'll never go down that route again.
I've quoted these figures in a thread last year, the £17 fee is just the beginning.
You'll be deducted Employer NI at 13.8% as well as Employee NI, gap pay, apprentice levy, pension contribution & possibly pay your own holiday pay.
To put into context, on 1 job, I put £19422 19/20 tax year through an umbrella & only came out with £10769.
As my contract halted Apr 20 due to C19 they paid furlough 4 times until they had to contribute a %, P60 sent with no notice by email & my a/c user ID terminated.
Solution, find an agency that'll trust you to pay your tax/NI & get paid direct......... I'll never go down that route again.
kinabalu said:
Um So Called, sorry you may be in for a shock at end of the month, as for the OP do everything possible to ditch the umbrella co.
I've quoted these figures in a thread last year, the £17 fee is just the beginning.
You'll be deducted Employer NI at 13.8% as well as Employee NI, gap pay, apprentice levy, pension contribution & possibly pay your own holiday pay.
To put into context, on 1 job, I put £19422 19/20 tax year through an umbrella & only came out with £10769.
As my contract halted Apr 20 due to C19 they paid furlough 4 times until they had to contribute a %, P60 sent with no notice by email & my a/c user ID terminated.
Solution, find an agency that'll trust you to pay your tax/NI & get paid direct......... I'll never go down that route again.
Oh yes, I'm fully aware of that little detail.I've quoted these figures in a thread last year, the £17 fee is just the beginning.
You'll be deducted Employer NI at 13.8% as well as Employee NI, gap pay, apprentice levy, pension contribution & possibly pay your own holiday pay.
To put into context, on 1 job, I put £19422 19/20 tax year through an umbrella & only came out with £10769.
As my contract halted Apr 20 due to C19 they paid furlough 4 times until they had to contribute a %, P60 sent with no notice by email & my a/c user ID terminated.
Solution, find an agency that'll trust you to pay your tax/NI & get paid direct......... I'll never go down that route again.
I will get about 61% of the top line.
I thought the question was, "How much will the Umbrella company charge".
The end customer has 'dictated the inside IR35 and so I'm looking globally for a new contract.
Problem is Covid at the moment.
I don't know if the Co I used a couple of years ago actually cared for me, but they were simple and easy to use and were clear and transparent when answering questions and queries. When looking for one, there were a few that claimed to be able to 'loan' funds in order to get more take home - but these were exploiting a loophole that wasn't necessarily legal or above board and might come back to bite if the Govt caught up with them - so I avoided them! I used Contractor Umbrella Ltd. Have you looked here and had a good read-around? https://forums.contractoruk.com/umbrella-companies...
808 Estate said:
how much more of the possible £360 a week will the umbrella route cost me.
Contractor Umbrella Ltd has a calculator on their site (most Umbrella Companies do) - https://www.contractorumbrella.com/resource/umbrel...Gassing Station | Jobs & Employment Matters | Top of Page | What's New | My Stuff