Pay Breakdown - Umbrella Company - £130pd - your thoughts on my takehome pay?

[bpbpbp]

Hi,

I'm hoping to do a crossreference from somebody in a similar contract to myself, as my take home pay is significantly less than I had hoped.

- I'm providing IT Analyst services to a client and using an umbrella company
- My rate is £130pd, my agency charge me at £160pd
- I have been here 8 weeks now, working a varying 3-5 days a week
- My daily expenses are only £10pd food, and 18 miles commute per day calculated at £8.10
- My pay breakdown is below

Thanks.

CALCULATION OF NET PAYMENT:

Time Worked 5.00 @
Rate £130.00
Total Chargeable Time £650.00

Expenses Re-Charged to Client £0.00
Under/(Over) Payment B/Forward £0.00
Invoice Amount Payable £650.00
Less Pre-tax Deductions:
Employers NIC £44.08
Pension/Child Care Vouchers £0.00

Umbrella Margin £40.00

Less Payslip Deductions:
Employees NIC £38.46
PAYE £54.20
Student Loans £12.00
Net Payment per Payslip £461.26

Deduction of Previous Advance £0.00
Amount Paid to Bank £461.26

Your net payment was paid as:
Net Wages £370.76
Non-rechargeable Expenses £90.50
Re-chargeable Expenses £0.00

Please note (see below) you have expenses carried forward of £0.00

[cojak]

Hi,

I'm hoping to do a crossreference from somebody in a similar contract to myself, as my take home pay is significantly less than I had hoped.

- I'm providing IT Analyst services to a client and using an umbrella company
- My rate is £130pd, my agency charge me at £160pd
- I have been here 8 weeks now, working a varying 3-5 days a week
- My daily expenses are only £10pd food, and 18 miles commute per day calculated at £8.10
- My pay breakdown is below

Thanks.

CALCULATION OF NET PAYMENT:

Time Worked 5.00 @
Rate £130.00
Total Chargeable Time £650.00

Expenses Re-Charged to Client £0.00
Under/(Over) Payment B/Forward £0.00
Invoice Amount Payable £650.00
Less Pre-tax Deductions:
Employers NIC £44.08
Pension/Child Care Vouchers £0.00

Umbrella Margin £40.00

Less Payslip Deductions:
Employees NIC £38.46
PAYE £54.20
Student Loans £12.00
Net Payment per Payslip £461.26

Deduction of Previous Advance £0.00
Amount Paid to Bank £461.26

Your net payment was paid as:
Net Wages £370.76
Non-rechargeable Expenses £90.50
Re-chargeable Expenses £0.00

Please note (see below) you have expenses carried forward of £0.00

£461 take home out of £650 gross comes out at a generous 70%, which is more than the 65% I would expect from a reputable umbrella.

If you want more more I would suggest finding a better paid contract.

[stek]

By how much?

There's the Brolly fee of £40 which seems a lot to me, and the employers NI which comes out of your pocket since it's part of the gross rate, £44.08.

So that's £84 quid before you start to deduct you NI and PAYE....

[LisaContractorUmbrella]

Calculation looks fine to me but the margin is particularly high at £40pw

Was it explained to you before you signed up with them that their margin and the employer's NI figure are deducted from the contract value before your salary is calculated?

[bpbpbp]

Calculation looks fine to me but the margin is particularly high at £40pw

Was it explained to you before you signed up with them that their margin and the employer's NI figure are deducted from the contract value before your salary is calculated?

Thanks all!

Lisa - I'm afraid if it was explained, I missed it, so I can't say. I was however, quoted £11.99 fees or similar as a new contractor moving from another. My previous company offered my £11.99 or so as an introductory offer. All of my payslips are showing £20.50 fee until this week's which has jumped to £40.00 - I am going to speak with them

[bpbpbp]

Thanks all!

Lisa - I'm afraid if it was explained, I missed it, so I can't say. I was however, quoted £11.99 fees or similar as a new contractor moving from another. My previous company offered my £11.99 or so as an introductory offer. All of my payslips are showing £20.50 fee until this week's which has jumped to £40.00 - I am going to speak with them

£40 margin was due to 2 invoices. All is clear now. Margin is still competitive at £20.50 and from your responses, I am getting a fair deal so I will leave it be for now.

Thanks all!

[northernladuk]

10 quid a day for food?? Really?

[LisaContractorUmbrella]

£40 margin was due to 2 invoices. All is clear now. Margin is still competitive at £20.50 and from your responses, I am getting a fair deal so I will leave it be for now.

Thanks all!

So did you work 3 days one week and 2 another? Just asking as the payslip refers to 5 days worked.

The margin is reasonable but all of this should really have been explained to you when you were taken on as their employee

[bpbpbp]

So did you work 3 days one week and 2 another? Just asking as the payslip refers to 5 days worked.

The margin is reasonable but all of this should really have been explained to you when you were taken on as their employee

Yes you are correct. It is most likely my incompetence, I'm sure it was explained to me

[cojak]

So allowing for an extra £20, your take home would have been £481, which would have been 74% take home.

Yes, I would let sleeping dogs lie as well if I were you...