Originally posted by DaveB
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Contractor Umbrella - any good?
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Originally posted by jamesbrown View PostThe answer is yes, AFAIK, the AL can and will be passed down by umbrella cos, but it needs to be done indirectly. It cannot, legally, be passed on directly. I recall some incredulity about this specific point in the Commons debate, but you can't really blame the umbrellas. It's bad policy.Comment
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Originally posted by moggy View PostThe AL cost to the business could change daily/weekly/monthly depending on payroll size.Comment
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Originally posted by jamesbrown View PostThe answer is yes, AFAIK, the AL can and will be passed down by umbrella cos, but it needs to be done indirectly. It cannot, legally, be passed on directly. I recall some incredulity about this specific point in the Commons debate, but you can't really blame the umbrellas. It's bad policy.Last edited by lucyclarityumbrella; 31 March 2017, 09:51.Comment
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The only options available are to either increase the margin - which could lead to a variable margin across the business, causing a huge headache to apply this to individuals. Alternatively, I think some umbrella's are applying a percentage from earnings for their margin - but this will penalise contractors earning higher figures. Then there are others who are simply not mentioning it to contractors yet, but come April 6th it will appear somewhere!Comment
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Originally posted by lucycontractorumbrella View PostThe only options available are to either increase the margin - which could lead to a variable margin across the business, causing a huge headache to apply this to individuals. Alternatively, I think some umbrella's are applying a percentage from earnings for their margin - but this will penalise contractors earning higher figures. Then there are others who are simply not mentioning it to contractors yet, but come April 6th it will appear somewhere!Comment
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Hi Lucy,
1. Does CU apply fixed weekly/monthly AL charge to contractors and not percentage of their earning?
2. If so how much is it weekly and monthly?
Please answer in layman's terms, my accountancy jargon in nil.Comment
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after reading lot of posts on this forum, im sure contractor umbrella may be a good one to join, but the fee is near the high end range compare to others and how long would it take normally for you guys to be "approved" by my agencies if you are not already on their approved list? thanksComment
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We are applying the levy, in the same way as the Employers NI is applied; so the Levy is taken as 0.5% of earnings over £157 per week, from the contract rate ie monies received from the agency or end client.Comment
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Originally posted by WilC View Postafter reading lot of posts on this forum, im sure contractor umbrella may be a good one to join, but the fee is near the high end range compare to others and how long would it take normally for you guys to be "approved" by my agencies if you are not already on their approved list? thanksComment
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