New contract inside IR35 via brolly

[northernladuk]

What about the agent in the process?

Don't have the choice of the umbrella. Don't know yet about the pension arrangement

Ah missed that bit.. Client-->agent-->brolly-->you.

The brolly is just a payment menthod between you and the agent.

So to get a gig with that agent you only have the choice of one brolly? nothing else? That's a bit of a pisstake if I ever saw one. Agent must be making a very nice penny out of that. Really poor.

[philgo]

Your £400 is the rate, brolly takes it cut, then all other costs taken out (including employer NI & apprenticeship). If you are getting £354 from £400, then it's 88%, as said normally around 55-65%

What do you mean by "as said normally around 55-65"?

[anonymouse]

What do you mean by "as said normally around 55-65"?

I've edited my earlier post, from the day rate, you'll get between 55 and 65 % as take-home pay, there isn't a standard illustration, some allow expenses, some don't (mentioned by Cojak)

[eek]

Ah missed that bit.. Client-->agent-->brolly-->you.

The brolly is just a payment menthod between you and the agent.

So to get a gig with that agent you only have the choice of one brolly? nothing else? That's a bit of a pisstake if I ever saw one. Agent must be making a very nice penny out of that. Really poor.

Or the agent just wants a really easy life - 1 set of timesheets and 1 invoice to pay.

[eek]

I've edited my earlier post, from the day rate, you'll get between 55 and 65 % as take-home pay, there isn't a standard illustration, some allow expenses, some don't

Most won't because if you are using an umbrella expenses are virtually impossible to claim except for a few exceptions (like very occasional travel to a different site at the request of the client)

[philgo]

Ah missed that bit.. Client-->agent-->brolly-->you.

The brolly is just a payment menthod between you and the agent.

So to get a gig with that agent you only have the choice of one brolly? nothing else? That's a bit of a pisstake if I ever saw one. Agent must be making a very nice penny out of that. Really poor.

No nothing else...Client likes the agency that likes this brolly I guess....So yes surely commissions in between. Hence I am trying to clarify in this relationship with 3 layers who is supposed to clearly tell me whether or not the NI employer and Tax levy is paid or not by the client? But I guess my point of pressure is the agent but the question is how as to be honest this is a F**** 3 layers....I understand why from April there is this KID document etc...

[anonymouse]

Most won't because if you are using an umbrella expenses are virtually impossible to claim except for a few exceptions (like very occasional travel to a different site at the request of the client)

Indeed, but some brollies still show an allowance within the illustration, to make the figures look better.

[northernladuk]

Indeed, but some brollies still show an allowance within the illustration, to make the figures look better.

I find that hard to believe.

[philgo]

Indeed, but some brollies still show an allowance within the illustration, to make the figures look better.

My estimate is done with below set up. So the easy one, no pension contrib, days off + margin, no expenses as said too complex within brolly
Tax calculation for a daily contract rate of £400, working 37.5 hours per week, 44 weeks per year, generating annual billings of £88,000 with expenses of £0. Tax code 1250L; Fiscal Year 2020/2021

[GhostofTarbera]

My estimate is done with below set up. So the easy one, no pension contrib, days off + margin, no expenses as said too complex within brolly
Tax calculation for a daily contract rate of £400, working 37.5 hours per week, 44 weeks per year, generating annual billings of £88,000 with expenses of £0. Tax code 1250L; Fiscal Year 2020/2021

Lol

Multiple rate by 53% to find your take home

End of - stop dreaming


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