Settle a question for me...

[DaveB]

But why get it reviewed if you behave like it is inside IR35, HMRC are not going to penalise you if you pay full PAYE and NI and if you get paid by a Brolly you are always inside IR35 anyway. Why pay for a review?

If you behave like a permie then there is indeed no point, just as there is if you intend to use a Brolly.

But just assuming that because the contract says you are inside doesnt mean you can't do anything about it or that you have to behave that way. Get it reviewed, act like a contractor not a permie and you can run it as a Ltd and will take home more of your day rate as a result.

Why *not* pay for a review if it will earn you more money as a result?

If the OP doesn't want the hassle of running a ltd then fair enough, go Brolly and stop worrying about it. If not....


PS. Bet the OP he can't get the agent to put that in writing

[JamJarST]

If you behave like a permie then there is indeed no point, just as there is if you intend to use a Brolly.

But just assuming that because the contract says you are inside doesnt mean you can't do anything about it or that you have to behave that way. Get it reviewed, act like a contractor not a permie and you can run it as a Ltd and will take home more of your day rate as a result.

Why *not* pay for a review if it will earn you more money as a result?

If the OP doesn't want the hassle of running a ltd then fair enough, go Brolly and stop worrying about it. If not....


PS. Bet the OP he can't get the agent to put that in writing

I get your point now, but it looked to me that the OP wanted to work with a brolly regardless of whether the take home was 60% or 80 (as if).

[gingerjedi]

80% is achievable on £100pd with mileage and subsistence expenses, maybe you should lower your rate?

[yasockie]

New contract paying 300 p/d (inside IR35)

The agent says through their 'recommended' umbrella I could recoup roughly 80% of that in take home.

Looking on a popular umbrella company calculator it says I am looking at just over 60% as take home (claiming expenses of £100 a week)

I can't see how there can be such a discrepancy, unless dare I say it the agency is in cahoots and receives some kind of benefit from pushing people into their recommended umbrella friends..

Anyone know what is a more realistic return?

Thanks

Just so you understand, the agent is getting a further cut from the umbrella - hence him trying to con you.
If you're inside IR35 I guess there isn't much point in setting up an Ltd.
My first contract years ago was with Parasol and I wholeheartedly recommend them, but they've become pricey recently.

[Wanderer]

The agent says through their 'recommended' umbrella I could recoup roughly 80% of that in take home.

Either they are lying or their recommended umbrella involves a tax avoidance scheme and these are widely considered to be risky.

Who is the umbrella they are recommending?

[nealus]

Either they are lying or their recommended umbrella involves a tax avoidance scheme and these are widely considered to be risky.

Who is the umbrella they are recommending?

I haven't used the agency before now so the recommendation is a mystery from the initial contact I have had. Although looking at the discussion above it is clear that as I intend to go with an umbrella anyway, avoiding the LTD hassles (because I am a weakling!), a review, etc is moot because HMRC are unlikely to prosecute someone who IS actually paying PAYE, etc..

[Wobblyheed]

So who is the recommended umbrella?????????

[BolshieBastard]

STEP AWAY FROM THE MYTHICAL UMBRELLA COMPANY

If you could take 80% home through an umbrella, without consequence, don't you think every person employed and contracted in the UK would be doing it???

That's about the only worthwhile contribution I've ever seen from you.

Just say no to brollies

[DaveB]

That's about the only worthwhile contribution I've ever seen from you.

Just say no to brollies who make unrealistic claims about retained income

FTFY. There are actually a good number of brollies out there who provide a decent service and dont make unrealistic claims or operate dodgy expenses schemes. Some of them actually post on here as well

[VectraMan]

So who is the recommended umbrella?????????

Is it Tract? I hear they're good.