Originally posted by TheFaQQer
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Reply to: Quickie on expenses
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Previously on "Quickie on expenses"
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Originally posted by boredsenseless View PostI looked at the title and though it was someone who'd managed to work out how to put through an escort girl on expenses, I mean what else could a Quickie on Expenses mean?
It says so in my dispensation.
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I looked at the title and though it was someone who'd managed to work out how to put through an escort girl on expenses, I mean what else could a Quickie on Expenses mean?
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Originally posted by damo111176 View PostCan someone just confirm something for me.
I work for an umbrella company, I pay 10% of my gross salary into a pension, I claim lets say for arguments sake £50 a week in schedule E expenses and I pay a fee to use the umbrella.
I do not go into the higher tax bracket.
Does my pension come off gross before Employers NI, employers NI and tax come off?
Do my expenses come off gross before Employers NI, employers NI and tax come off?
So for example if I claim £50 expenses do I actually get approx 40% back in my pocket or less?
Thanks as this has lef tme a little confused.
If you are thru an Umb I would guess as an employee it could be either way - you should have some documentation to back this up.
If they are off Gross, then thats nice and simple.
If it's off Net, then you should get a "credit" from HMG to add onto your amount - your pension statement should provide you with the info.
Or of course you could ask the umbrella, after all your paying for their service....
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Strictly speaking, if you had your own company, expenses come off gross and personal pension off nett income - or you use a company pension scheme in favour of its director(s).
You need to ask the umbrella how they are accounting for it but it is most likely following the same rules.
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Quickie on expenses
Can someone just confirm something for me.
I work for an umbrella company, I pay 10% of my gross salary into a pension, I claim lets say for arguments sake £50 a week in schedule E expenses and I pay a fee to use the umbrella.
I do not go into the higher tax bracket.
Does my pension come off gross before Employers NI, employers NI and tax come off?
Do my expenses come off gross before Employers NI, employers NI and tax come off?
So for example if I claim £50 expenses do I actually get approx 40% back in my pocket or less?
Thanks as this has lef tme a little confused.Tags: None
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