• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.

Permanent PLUS Just Got Umbrella

Collapse
X
Collapse
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #11
    Originally posted by Dranzer View Post
    I dont think I was referring to obvious issues; i think i was more so looking for pay/payment deductions etc. I wasnt looking for guidance or someone holding my hand on the workload front; thats all manageable.
    You asked for "implications" - you got them. If you wanted something more specific (payments), then you should have asked for that.

    You can either keep your tax code the same as it is today with your employer, and also give that same tax code to your Umbrella, and be ready to pay the extra tax (and potentially interest) when you do your SA for that year (and HMRC might automatically change your tax code too), or estimate what your income from the Ubmrella will be, tell HMRC that, get a new tax code, which can be used by both your employer and Umbrella. You'll still need to do your SA for that year and pay/reclaim any difference.

    Originally posted by Dranzer View Post
    And nobody has factored in that... We are working from home
    In what way does that mitigate against both employer and Umbrella client wanting you on a call at the same time? And, will you still be 5 days from home in July?

    Comment


      #12
      the way to make it work is to ensure that the contract is part-time. That way you can promise full time to the employer, and actually stand a chance of meeting that.
      Make sure you track your hours for timesheets, and also to fend off any accusations that you are not doing what your paid to do.
      Both the employer and they client need to know what you're doing.

      In an ideal world both want the same work (designs, code, etc.) so you can charge them both for doing the same hours. Double bubble.
      See You Next Tuesday

      Comment


        #13
        I know people doing this and are able to meet targets just fine. Many permanent jobs pay less because the work is easier, particularly in companies who are yet to discover automation. Just automate your own services and the job is easily 10% of the difficulty it would be when done manually. Perhaps people have been contracting so long they have forgotten that many permanent jobs are very easy but also pay proportionately less to account for this easiness and perceived job security.

        As to your concern regarding the permanent job Human Resources, I don't see why you are worrying. For all they know you have other income streams. You could be paying yourself using a Limited Company or have a range of personal rental income. You are worrying without good reason. The other responses in this thread are reminiscent of people unable to multi-task well or who instead waste a lot of their day on this forum when they could be billing a second contract or part time work. I've done multiple contracts before and it's relatively easy if you are an organised person.

        Part time work generally pays a much higher day rate to compensate for the days being limited and to attract talent to the role. If you find the permanent job can't be automated then you may be in trouble, but I expect it will be manageable. Just get the correct tax code from HMRC and "don't sweat the small stuff."

        Comment


          #14
          ...provided the permanent contract of employment permits it.

          I don’t know if he can manage it, let’s assume he can. The best thing for him to do is to juggle it and make sure that his permanent employer doesn’t find out.

          And then figure the tax out via his SA.
          "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
          - Voltaire/Benjamin Franklin/Anne Frank...

          Comment


            #15
            Originally posted by Dranzer View Post
            I dont think I was referring to obvious issues; i think i was more so looking for pay/payment deductions etc. I wasnt looking for guidance or someone holding my hand on the workload front; thats all manageable.

            And nobody has factored in that... We are working from home
            Ignoring whether its combining brolly or perm jobs, etc.. Having two jobs on PAYE payroll is quite normal. When setting up the second job you complete a 'new starter checklist' (previously P46). This has an option to say you've already got a job and this is an additional one. This lets the taxman know to set up another tax code for that job to collect the correct taxes.

            Comment


              #16
              Originally posted by agentzero View Post
              I know people doing this and are able to meet targets just fine. Many permanent jobs pay less because the work is easier, particularly in companies who are yet to discover automation. Just automate your own services and the job is easily 10% of the difficulty it would be when done manually. Perhaps people have been contracting so long they have forgotten that many permanent jobs are very easy but also pay proportionately less to account for this easiness and perceived job security.
              But as an employee it is your job to automate it and then get on with a new piece of work with the time you saved. If you were being paid to carry out a task then fair enough but not when you are employed. Increasing efficiency so you can save time to do something else is your job. Just because you can do a job faster doesn't mean you can then sit in their office and do other work. I think you've forgotten how to be a permie.
              As to your concern regarding the permanent job Human Resources, I don't see why you are worrying. For all they know you have other income streams. You could be paying yourself using a Limited Company or have a range of personal rental income. You are worrying without good reason. The other responses in this thread are reminiscent of people unable to multi-task well or who instead waste a lot of their day on this forum when they could be billing a second contract or part time work. I've done multiple contracts before and it's relatively easy if you are an organised person.
              You are wrong. He could have other income streams and as long as they are done outside the 9-5 they probably won't care. That said if it's using their IP, customers or anything linked to them they will care a lot. It's about trying to balance out what they might be intereted in and telling them and what they aren't. Potentionally using their time to do other work will interest them. Income doesn't really matter, his time during the day does. Again, multi tasking isn't the answer. If he can multi task his job well enough to do other work then he should be multi tasking for his client. Ahhh Now we find out why you are so far of the mark. He isn't doing multiple contractrs. He's employed and also doing a contract. Hugely different.
              Part time work generally pays a much higher day rate to compensate for the days being limited and to attract talent to the role. If you find the permanent job can't be automated then you may be in trouble, but I expect it will be manageable. Just get the correct tax code from HMRC and "don't sweat the small stuff."
              What has part time work got to do with this? He's employed full time and wants to do a 'day rate' contract. Nothing part time there.

              Him 'sweating the small stuff' is whether he'll lose his job, the gig or both. I'd hardly call those small.
              'CUK forum personality of 2011 - Winner - Yes really!!!!

              Comment

              Working...
              X