Hi guys.
Probably a very common question by now but I haven't found an answer to my specific problem yet.
I'm about to start my first contract with Network Rail via Capita and I was offered 3 options of Umbrella/LTD/PAYE.
Umbrella - £200
LTD - £175
PAYE. - £155 with holiday/sick pay
First of all, does this look correct?
My query is now with the PAYE route. I assumed that the PAYE day rate would be my take home as all other tax deductions would have been made (hence the lower rate), but I've been advised that NI and 1% (pension) are to be deducted from that £155 day rate. Is this correct? Based on the figures, what would my weekly take-home be?
I've also queried a number of Umbrella companies and the rough percentage estimate for take home is about 64%. Having worked it out, the PAYE still looks the best option for me. I've worked out my take home should be about £680. Is my maths correct?
Please help!!!
Probably a very common question by now but I haven't found an answer to my specific problem yet.
I'm about to start my first contract with Network Rail via Capita and I was offered 3 options of Umbrella/LTD/PAYE.
Umbrella - £200
LTD - £175
PAYE. - £155 with holiday/sick pay
First of all, does this look correct?
My query is now with the PAYE route. I assumed that the PAYE day rate would be my take home as all other tax deductions would have been made (hence the lower rate), but I've been advised that NI and 1% (pension) are to be deducted from that £155 day rate. Is this correct? Based on the figures, what would my weekly take-home be?
I've also queried a number of Umbrella companies and the rough percentage estimate for take home is about 64%. Having worked it out, the PAYE still looks the best option for me. I've worked out my take home should be about £680. Is my maths correct?
Please help!!!
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