What does everyone think of this calc?

[beaker]

iam a client.

its goodto help others pick a good brollie. iam a good member to this society.

the topic was side tracked because someone seems to think that umbrella companies can not be differntciated which is poop, as if it was the case then we wouldnt have forums and sites discussing which brollie is the better than the other would we.

As a client, you really should be leaving it up to the contractor to use the company that suits them. The advice you will always get here is for the contractor to run their own ltd for maximum control over their affairs or use a well regarded umbrella company (Contractor Umbrella is one I can personally recommend).

Any umbrella claiming it a can provide a greater take home pay should be treated with some suspicion.

[LisaContractorUmbrella]

Hi Guys

Umbrella companies have calculators on their websites to give contractors an idea of what their take home pay is likely to be based on their rates and expenses claimed. However, the calculation will never be accurate if you do not have to add a separate figure for your expenses. An online calculator cannot predict what your expenses are likely to be as the umbrella company has no way of knowing what costs you will incur. Any calculator that assumes an amount for expenses or does not tell you what tax code is being used will be totally misleading.

HTH

[eddiegee]

Most people know its just a prediction as most calculators state that its just a projection.

[Mikey D]

It is an estimation, they say as much!!

If you want a more detailed one, phone them I did and they gave me a take home it was £20 less than the Danbro on-line calc (over hundard pounds less than some of the overs) but should represent an accurate projection. They even sent it me out in a PDF so I have a copy.

As Kylie says they did not try and make me claim for expenses I would not be spending!!

Seems OK to me!!

[BoredBloke]

I'd be interested in how they get away with this

"Subsistence

Where you are unable to obtain a receipt, and you are working at a temporary workplace, then within the umbrella company option subsistence can be claimed on the following basis -

Up to £10 if you work more than 5 hours a day not including travel time and excluding breaks

Up to £26 if you work more than 10 hours a day including travel time and excluding breaks"

I thought subsistance was to pay for the little costs you incurr over the course of a day, generally when you are working away from home. How the hell can you reasonably justify £26 subsistance? How much does everybody charge for subsistance? When I was working away from home I used to put down £5 per day through my ltd. Should I have tried to claim more?

[r0bly0ns]

I'd be interested in how they get away with this

"Subsistence

Where you are unable to obtain a receipt, and you are working at a temporary workplace, then within the umbrella company option subsistence can be claimed on the following basis -

Up to £10 if you work more than 5 hours a day not including travel time and excluding breaks

Up to £26 if you work more than 10 hours a day including travel time and excluding breaks"

I thought subsistance was to pay for the little costs you incurr over the course of a day, generally when you are working away from home. How the hell can you reasonably justify £26 subsistance? How much does everybody charge for subsistance? When I was working away from home I used to put down £5 per day through my ltd. Should I have tried to claim more?

As I understand it, the HMRC allowance is £5 a day when staying away from home.

this must be one of those 'special' rules for ubrella employees.......

LisaContractorUmbrella, can you answer this one? Is it legit? Is it subject to BIK tax?

[LisaContractorUmbrella]

As I understand it, the HMRC allowance is £5 a day when staying away from home.

this must be one of those 'special' rules for ubrella employees.......

LisaContractorUmbrella, can you answer this one? Is it legit? Is it subject to BIK tax?

Again, this goes back to the difference between what is recorded on a dispensation and what an individual contractor is entitled to claim. If you can legitimately claim for the cost of meals (refered to as subsistence when considered with travel by the IR) then you can claim the cost of those meals. This quote does not mean that each and every contractor who uses the umbrella company's services can claim £26 per day.

HTH

[r0bly0ns]

So in the example above, the £26 includes evening meal and this can't be claimed seperately....


I thought that might be the case, ta.

[eddiegee]

HMRC won't ask you for evidence of the £5 incidental expense when you must stay away from home due to work purposes. incidentals being newspapers, washing machine costs etc

the £26 dispensation means you can claim UPTO that subsistence amount without the firm having to see the receipts. This does not mean that HMRC wont want to see the receipts and thats why i quote from their expense policy(which is very visible).......

''*We do recommend that you keep all receipts for evidence just incase you are asked to provide proof to HMRC that you incurred the expense''

[LisaContractorUmbrella]

HMRC won't ask you for evidence of the £5 incidental expense when you must stay away from home due to work purposes. incidentals being newspapers, washing machine costs etc

the £26 dispensation means you can claim UPTO that subsistence amount without the firm having to see the receipts. This does not mean that HMRC wont want to see the receipts and thats why i quote from their expense policy(which is very visible).......

''*We do recommend that you keep all receipts for evidence just incase you are asked to provide proof to HMRC that you incurred the expense''

However, the section dealing with this daily allowance is headed:

Where you are unable to obtain a receipt, and you are working at a temporary workplace, then within the umbrella company option subsistence can be claimed on the following basis -

Up to £10 if you work more than 5 hours a day not including travel time and excluding breaks

Up to £26 if you work more than 10 hours a day including travel time and excluding breaks