Originally posted by Great Britten
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1. They pay you the same money whether you're working or not (similar to a permanent job), i.e. they put 12.07% of your taxable pay into a separate fund and dip into that fund on bank holidays etc.
2. They give that holiday pay to you as you earn it, then it's up to you to save some money for a rainy day.
Either way, they're not stealing the money. However, with option 1, you need to be clear about what happens if you end the contract with unused holiday days, e.g. you might stay on as an employee of the umbrella company for an extra week to get that money.
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