best umbrella

[Ardesco]

you mean the thought of taking home more money and controlling what he actually earns would be too much for him

It seems to be for a large majority of people....

[NickNick]

I used Giant for a while when I started contracting and they were average at best.

NN

[unemployed]

Nah, the OP will either be inside IR35 or finds LtdCo too much effort...

you got that right , hardly worth setting up a limited company for £22ph is it ?
maybe in years to come if im not a one man band , this may be the way but for now an umbrella will be good enough , i am not greedy.

so the consensus is giant are rubbish. Anyone used parasol ?

[malvolio]

you got that right , hardly worth setting up a limited company for £22ph is it ?

So you don't earn enough to make it worthwhile earning more, is that what you're saying?

£22 ph is roughly £46k a year gross, and even more roughly £38k net with your own company or £33k on full PAYE. So that's 14% of your gross income gone for no reason.

Or under IR35, if you are, you can get 95% of all your income, or 95% of all your income less the umbrella's fees, which will be a lot more than most accountants.

Still, your call....

[Torran]

you got that right , hardly worth setting up a limited company for £22ph is it ?
maybe in years to come if im not a one man band , this may be the way but for now an umbrella will be good enough , i am not greedy.

so the consensus is giant are rubbish. Anyone used parasol ?

Sweet baby jeesurs mate there must be 101 threads asking this question. You don't even need to search. There is a live thread in the legal bit.

*shakes self*

sorry, yes I'm with Parasol and they are absolutely fine.

[unemployed]

So you don't earn enough to make it worthwhile earning more, is that what you're saying?

£22 ph is roughly £46k a year gross, and even more roughly £38k net with your own company or £33k on full PAYE. So that's 14% of your gross income gone for no reason.

Or under IR35, if you are, you can get 95% of all your income, or 95% of all your income less the umbrella's fees, which will be a lot more than most accountants.

Still, your call....

well im dipping my toe in contracting so will see how it goes, how did you get to the figure of 46k gross btw ?

[malvolio]

well im dipping my toe in contracting so will see how it goes, how did you get to the figure of 46k gross btw ?

Very rough just to illustrate the point, but £22 ph * 8 hours a day * 260 working days a year and rounded. If you want better numbers take a look at http://calculator.contractoruk.com/ - there's about £4691 a year more by being outside IR35 (and using an umbrealla is the same as being inside, but you pay for the privilege)

[unemployed]

Very rough just to illustrate the point, but £22 ph * 8 hours a day * 260 working days a year and rounded. If you want better numbers take a look at http://calculator.contractoruk.com/ - there's about £4691 a year more by being outside IR35 (and using an umbrealla is the same as being inside, but you pay for the privilege)

ah right ! was basing my calculation on 7.5 hrs a day.

[ASB]

ah right ! was basing my calculation on 7.5 hrs a day.

And working every bank holiday and having no holidays at all and never being on the bench.??

I would suggest 7.5 * 22 * 220 is probably better guidance.

[unemployed]

And working every bank holiday and having no holidays at all and never being on the bench.??

I would suggest 7.5 * 22 * 220 is probably better guidance.

suddenly going back to perm work sounds more appealing