Theoretically they should net out the same. In the real world however, depending on the rate you can negotiate, the umbrella should give you a better net income, but you won't get the pension, sick pay and paid holidays (which may be important with a newbie in the house). personal tax situation will also have an impact of course.
You want good advice, talk to Lucy at Clarity Umbrella. You want a good umbrella, they are one of the (increasingly) few honest ones.
Client sounds like a good one though!
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4 day week contract - Umbrella or PAYE (FTC)
Just entering into the new world of IR35 misery after 12 months on maternity been leave. I've been offered a 4 day week contract which is initially 2/3 months and has the potential to roll on maybe longer. I run a limited company usually but this job falls within IR35.
My client has offered to go Umbrella (I can choose which one) or to go on their payroll and receive the same benefits as full time employees - pension, holiday etc.
So I'm trying to work out which option will give me the most take home pay - going with an Umbrella or on the company payroll? I have a feeling an Umbrella, even after their fees might be best, as I'll be charging a day rate. I'm already going to be taking a hit going down to a 4 day week so I feel like maybe this is best? Just need someone with a non baby brain to tell me what's the best decision. Oh and suggest a good Umbrella to use, if this is the best route. Thank you in advance ?
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