Hi all, been researching umbrellas as potential employers are asking for this. The lowest quote I can find is £404 a week on a day rate of £112. That's £70 a week less than standard employers PAYE. £70 a WEEK! I'm horrified. How has this been worked out and surely umbrellas don't charge £70 a week for their services... do they?? Any advice gratefully received
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Rather stunned, need help
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It’s because you have to pay for Employer’s NI as well as Employee’s NI.
This explain Employer’s NI
https://forums.contractoruk.com/umbr...loyers-ni.html
Take look at this breakdown:
https://forums.contractoruk.com/publ...ml#post2394879
And why calculations differ
https://forums.contractoruk.com/umbr...ey-differ.html
Just take a look at the stickies on this forum, but basically £112 a day does not make contracting worthwhile - and certainly not worth it if you are inside IR35."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... -
Originally posted by sally40t View PostHi all, been researching umbrellas as potential employers are asking for this. The lowest quote I can find is £404 a week on a day rate of £112. That's £70 a week less than standard employers PAYE. £70 a WEEK! I'm horrified. How has this been worked out and surely umbrellas don't charge £70 a week for their services... do they?? Any advice gratefully receivedComment
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