Brolly calculation from agency

[Wobblyheed]

FTC would be preferable to brolly - if they pay you your day rate that is.

[Liberator]

So I'm struggling with the umbrella concept. What's the benefit to OP of using an umbrella? Wouldn't he better off just pushing to go perm - he'd need to negotiate £75K to get the same take home on an umbrella but then gets more of the advantages and protection.
Or are you guys finding that perm isn't on the table and it's just umbrella or nothing?

I've been approached to go perm. No salary figures suggested yet so I'll wait to see on that but certainly I know a few employers in pharma who are using it as an opportunity to increase their Permie / Contractor ratio.

[ladymuck]

So I'm struggling with the umbrella concept. What's the benefit to OP of using an umbrella? Wouldn't he better off just pushing to go perm - he'd need to negotiate £75K to get the same take home on an umbrella but then gets more of the advantages and protection.
Or are you guys finding that perm isn't on the table and it's just umbrella or nothing?

It's not so much a choice for the OP but a decree by the client.

They don't want the headcount on their books and the associated costs. A company looks more efficient to investors if they have a low headcount and if they can avoid the benefits, tax and pensions liabilities with no notice firing, all the better.

[GhostofTarbera]

So I'm struggling with the umbrella concept. What's the benefit to OP of using an umbrella? Wouldn't he better off just pushing to go perm - he'd need to negotiate £75K to get the same take home on an umbrella but then gets more of the advantages and protection.
Or are you guys finding that perm isn't on the table and it's just umbrella or nothing?

Why on earth would they want a perm? for a few weeks/months


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[northernladuk]

Yup

[Surrey Contractor]

See what a calculation from a proper umbrella company looks like and ignore holiday pay - assuming you take breaks you will get that money eventually

Umbrella Take Home Pay Calculator - Clarity Umbrella Ltd tells me you will get £1178 after tax and their fee so £235 a day.

So I'm struggling with the umbrella concept. What's the benefit to OP of using an umbrella? Wouldn't he better off just pushing to go perm - he'd need to negotiate £75K to get the same take home on an umbrella but then gets more of the advantages and protection.
Or are you guys finding that perm isn't on the table and it's just umbrella or nothing?

[eek]

See what a calculation from a proper umbrella company looks like and ignore holiday pay - assuming you take breaks you will get that money eventually

Umbrella Take Home Pay Calculator - Clarity Umbrella Ltd tells me you will get £1178 after tax and their fee so £235 a day.

[jmo21]

So I've been given this calculation by my agency of what my current contract would look like if I stay and move from Ltd to their umbrella.

Current day rate is £400 - does anything below jump out as odd/unexpected?

--------------------------------------------------------
Gross Rate £293.79
Holiday £47.22

Total paid to <umbrella name> £341.01 which is subject to tax, national insurance and employee pension contributions to give your net figure.

This has been calculated from the current Ltd company assignment rate to account for Employer deductions;

36 days holiday 16.07% Calculated from Net rate
Apprenticeship Levy 0.5% Net rate + Holiday
National Insurance 13.8% Net rate + Holiday
Employers Pension contribution 3% Net rate + Holiday
-------------------------------------------------------