Originally posted by Sausage Surprise
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Reply to: Expenses question
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Previously on "Expenses question"
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Originally posted by LisaContractorUmbrella View PostNo. Absolutely not. Tax avoidance schemes may operate in this way, umbrella companies do not
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Originally posted by CloudWalker View PostThis,
Umbrellas will manipulate your pay slip by adding in things like "Holiday Pay / Commission" to your Basic Pay so you pay the lowest income tax and NI. This allows them cream off the rest. And they keep a cut of the VAT too!
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Originally posted by CloudWalker View PostThe dodgy "Off Shore" umbrella companies in the Isle of Man dont
Offshore Umbrella Companies for UK Contractors | Top Offshore Umbrella Companies, Isle of Man, Best Offshore Umbrella Company guide
This is hardly indicative of the umbrella industry.
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Originally posted by CloudWalker View PostThis,
Umbrellas will manipulate your pay slip by adding in things like "Holiday Pay / Commission" to your Basic Pay so you pay the lowest income tax and NI. This allows them cream off the rest. And they keep a cut of the VAT too!
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Originally posted by TheFaQQer View PostHow do umbrellas keep a cut of the VAT?
They invoice the agency including VAT, they pay the VAT over to HMRC, surely?
The dodgy "Off Shore" umbrella companies in the Isle of Man dont
http://www.offshoreumbrellacompanies.com/Last edited by CloudWalker; 26 June 2014, 16:22.
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Brollys are ok if you don't want the hassle of running a company.
But If you do run your own company then you still need to pay an accountant company minimum £95 per month to do most of the stuff for you. That is unless you know what your doing and can balance the books yourself!
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Originally posted by CloudWalker View PostThis,
Umbrellas will manipulate your pay slip by adding in things like "Holiday Pay / Commission" to your Basic Pay so you pay the lowest income tax and NI. This allows them cream off the rest. And they keep a cut of the VAT too!
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Originally posted by northernladuk View PostVery true but I hope people see Umbrellas as a short term solution so much more likely to apply than a LTD.
Umbrellas will manipulate your pay slip by adding in things like "Holiday Pay / Commission" to your Basic Pay so you pay the lowest income tax and NI. This allows them cream off the rest. And they keep a cut of the VAT too!Last edited by CloudWalker; 26 June 2014, 15:27.
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Originally posted by LisaContractorUmbrella View PostI may have totally misunderstood you here but are you saying that you should be able to claim £105 per night x 4 nights x 4 weeks which is £1680.00 even if you have only spent £700??
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Originally posted by kaiser78 View PostNewbie question - don't knock them, either answer them helpfully or move onto the next thread. We were all starters at one point...
Contras being a newbie basher? LOL I have heard it all. Contreras is one of our seasoned and well respected poster. He is (annoying) polite to any poster how ever stupid the question is (but I am working on him so hopefully will change soon ) and always offers correct and detailed advice. He's kind of completely the opposite of me really.
But it's like anywhere is life. You ask stupid/uniformed/lazy questions you cannot expect people to be nice all the time.Last edited by northernladuk; 26 June 2014, 09:12.
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Originally posted by sophia57 View PostHi Scotchpie,
If you don't mind me asking, what umbrella are you with? I'm with Parasol and I'm unsure of what their policies are on accommodation in London.
"You may claim for the actual receipted cost of the accommodation per night up to a maximum of:
Accommodation in London (within M25) £106.00
Accommodation elsewhere (outside M25) £90.00"
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Originally posted by LisaContractorUmbrella View PostI may have totally misunderstood you here but are you saying that you should be able to claim £105 per night x 4 nights x 4 weeks which is £1680.00 even if you have only spent £700??
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