Originally posted by Paralytic
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Potentially going PAYE (short term) - rate breakdown
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This is a sticky topic.
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merely at clientco for the entertainment -
Originally posted by eek View PostSpeak to Lucy @ Clarity it's because of her that I know about the change.
"You are entitled to 28 days holiday each financial year (per annum pro rata) shown as a separate entry on your payslip. By default, we deduct 12.07% of your taxable salary from your contract rate and repay this every time we make a payment to you, this means no retained holiday pay is available when you do take holiday."
Whilst accurate now, I'd be disappointed if they know that will no longer be the case in April but had committed that information.Comment
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Swedish derogation has nothing to do with rolled up holiday pay. SD is being abolished but that's an AWR pay between assignments model.Comment
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Originally posted by PCTNN View PostI don't understand what people say is illegal.
Client terminates your original contract and offers you another contract with lower rate. Same effect of when clients cut rate of x% and say take it or leave it.
Is it fair? Probably not
Is it illegal? Definitely not"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
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It is threads like this that give us a better understanding of the New World.
I will make it a sticky.
Thanks to all."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
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Lazy Agency or Standard Behaviour
Originally posted by ComplianceLady View PostThere's a requirement from April for all Agencies to issue KIDS - essentially a breakdown of pay for each engagement type, this will make it much clearer as there's a different rate to quote for outside IR35, inside IR35, PAYE & Umbrella even though the overall cost to the client and agency margin is the same. That's because, as has been mentioned, you cannot include certain statutory deductions in some of the quoted rates but you can in others. So it's really critical to understand what engagement type you're being offered.
An agency has a job advertised for 6 months £500 a day - Inside IR35. Prior to applying, I wanted to know the exact breakdown of this deductions and NET PAY. I was told this was not possible and to seek financial guidance. Is this just lazy agency work or are they within their rights?Comment
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Potentially going PAYE (short term) - what the actual f**k!
Laziness from the agency or the agent is lazy AND thick and doesn’t know how to calculate it.
It is DEFINITELY up to them to give you a breakdown of the rate - who the feck else is going to know?"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
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Originally posted by nico View PostHello
An agency has a job advertised for 6 months £500 a day - Inside IR35. Prior to applying, I wanted to know the exact breakdown of this deductions and NET PAY. I was told this was not possible and to seek financial guidance. Is this just lazy agency work or are they within their rights?
Now it's likely to be the former so it's £380 a day before employee taxes but the agency should be able to say how where that £500 needs to go.
Thankfully the new rules in April that compliancelady mentioned before should make things easier as they need to be - Inside IR35 contracts are employment contracts and very different duty of care requirements exist.merely at clientco for the entertainmentComment
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Some I have seen today:-
Pay Rate: £500.00 (Inside IR35)
PAYE £372.50 per day + 14.54% accrued holiday + 3% pension contribution
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Pay Rate to Candidate: £550 (Inside IR35)
PAYE £409.37 per day + 14.54% accrued holiday + 3% pension contribution
*********
*********
Pay Rate: £550 (Inside IR35)
PAYE rate: £410 per day + 12.07% accrued holiday + 3% pension contributionLast edited by youngguy; 9 January 2020, 20:49.Comment
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Originally posted by youngguy View PostSome I have seen today:-
Pay Rate: £500.00 (Inside IR35)
PAYE £372.50 per day + 14.54% accrued holiday + 3% pension contribution
*********
*********
Pay Rate to Candidate: £550 (Inside IR35)
PAYE £409.37 per day + 14.54% accrued holiday + 3% pension contribution
*********
*********
Pay Rate: £550 (Inside IR35)
PAYE rate: £410 per day + 12.07% accrued holiday + 3% pension contribution
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