Payments under an umbrella

[KrisM82]

Hi guys,

I was hoping would guys could explain something to be, Ive been contracting for about 2 1/2 months now and my payments have not come in at any sort of regular interval (partially because my agency has been changing their payments system)

Thats not really the issue, my payments don seem tobhe a consistant percentage of ym invoice amount, for example

My initial week was an invoice cost of £1200.00 (before VAT) but after deductions and student loan my take home was £661.70.

Now over the last two weeks two of my payments have been combined from from 2 weeks of an invoice cost (before VAT) each week being £1125.00 & £1200.00 however my take home is £1130.01...

Some thing just doesn't seem right, has anyone ever had this problem? or can explain whats goign on...

Any comments or suggestions would be good as Im planning on contacting my umbrella company next week to find out what happening...

Cheers,
Kris

[Bluebird]

Hi guys,

I was hoping would guys could explain something to be, Ive been contracting for about 2 1/2 months now and my payments have not come in at any sort of regular interval (partially because my agency has been changing their payments system)

Thats not really the issue, my payments don seem tobhe a consistant percentage of ym invoice amount, for example

My initial week was an invoice cost of £1200.00 (before VAT) but after deductions and student loan my take home was £661.70.

Now over the last two weeks two of my payments have been combined from from 2 weeks of an invoice cost (before VAT) each week being £1125.00 & £1200.00 however my take home is £1130.01...

Some thing just doesn't seem right, has anyone ever had this problem? or can explain whats goign on...

Any comments or suggestions would be good as Im planning on contacting my umbrella company next week to find out what happening...

Cheers,
Kris

Speak to the umbrella - after all your paying them to handle your affairs.

You sound like an intellegent person, surely their calculations shouldn't be beyond your comprehension if they explain them to you.

as a rough quote I would guess that for 1200 your take home should be about £720 less their fees and the loan...

[VectraMan]

They're probably working out the deductions monthly, rather than weekly. So you could receive your full amount for 3 weeks, then pay the whole month's worth of tax out of week 4.

[Cowboy Bob]

They're probably working out the deductions monthly, rather than weekly. So you could receive your full amount for 3 weeks, then pay the whole month's worth of tax out of week 4.

My agency does it like that for my fortnightly pay (I'm currently going PAYE direct through them). It's easier for them to do it like that apparently as their software works in monthly payment cycles.

[KrisM82]

Thanks for the replys,

I'll chase them up tomorrow and find out whats going on! and let let everyone know for future reference

Kris