-
Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Recent content by gareth1981
-
G
1st payslip questions
Thanks I do recall yes, albeit accused of being a salesman somehow and banned. I asked again as it was some time ago and I wanted to see whether things had moved on. I work with several people whom have used those kind of companies, some regretted it and others didn't. I'd rather stay away from...- gareth1981
- Post #10
- Forum: Umbrella Companies
-
G
1st payslip questions
I was yes, seems like they have been unaware of me moving jobs ever since 2018 when I closed down a Ltd company I owned. So staring that process of having tax codes changes, possible tax refund from last year of working at perm place of work. I've been lax on getting tax code updated, but will...- gareth1981
- Post #9
- Forum: Umbrella Companies
-
G
1st payslip questions
Many thanks! Yeah I have heard about loan charges and been advised in the past to stay away from it. Still being left with 47% seems ludicrous, hopefully an issue with tax code as I am on 731T at present. Thanks for your help!- gareth1981
- Post #3
- Forum: Umbrella Companies
-
G
1st payslip questions
Hello So I have just got my first payslip from my umbrella company. To say I am confused is an understatement. I'm having to pay employers NI and Levy. I'm basically down 53% of my Gross day rate for the month. Surely this cant be right? I am on a tax code of 731T, which may explain this. On...- gareth1981
- Thread
- Replies: 11
- Forum: Umbrella Companies
-
G
Umbrella Company offering 87% return
Repeatedly…? You mean 3 times... the 'punters' you allude to, are not all doing what I am doing, I am asking questions as to the validity and logic behind such a scheme, what I am doing is also listening and taking advice. Through discussions on boards of this nature, as ASB has politely set...- gareth1981
- Post #24
- Forum: Umbrella Companies
-
G
Umbrella Company offering 87% return
I was thinking maybe something like:- Pay employee minimum wage. Pay balance into pension fund. Employer borrows from pension fund Employer makes back to back loan to employee I suspect there are a whole host of hurdles to jump in order for the loan not to be taxable - at least at a point it...- gareth1981
- Post #23
- Forum: Umbrella Companies
-
G
Umbrella Company offering 87% return
Partly. What I am trying to find out is whether people have had experiance with this. Without wishing to get banned, I was told the loan benefitiary would be the personal pension holder (ie: myself). I dont beleive they lend the money to the pension pot, I think the money is provided to the...- gareth1981
- Post #20
- Forum: Umbrella Companies
-
G
Umbrella Company offering 87% return
Thanks ASB, thats the kind of constructive comment I was after, will look into this. God help anyone new trying to get help on this site!- gareth1981
- Post #17
- Forum: Umbrella Companies
-
G
Finding rates at £550+
In terms of increasing your rate, what do you all do? I've tended to try adn ask for a rate rise of between 5-10% every 6 months. Is this the norm?- gareth1981
- Post #25
- Forum: Business / Contracts
-
G
Umbrella Company offering 87% return
Wasnt a plug, (not that I will be believed now). Reading the above, you will note I wasnt suggesting people to use the company, rather me wanting to know the facts, which you all kindly provided. In anycase, thank you all for your advide, as suggested I will keep with Ltd company. G- gareth1981
- Post #15
- Forum: Umbrella Companies
