Hello,
(I have searched but couldn't find an answer)
I am about to start a new contracting role and this time want to make sure I am getting what I should, if I choose to switch to an Umbrella Co from PAYE.
My hourly rate through PAYE will be £24 an hour + Holiday on top of that. I work that out as 24 + 12.07% = £26.88p
(I understand the holiday will only be paid on days off but will get to me eventually)
Now if I switch to an Umbrella the agent confirmed that they would cover the National Insurance Uplift on top. Now does that mean I should be expecting to receive £26.88p (rate & Holiday) plus an additional 12% for Employers NI (total £30.10)?
I ask as when the agent gave the figures to his "recommended umbrella company" prior to talking to me they only quoted me a rate of £26.88 per hour?
Which doesn't work out any better if I just stayed on PAYE?
Can someone please confirm I am correct in thinking he has either missed off the holiday or NI Uplift - As I want to go back to the agent to sort this out, and I'd appreciate some assurance that I am in the right and he is trying to himself save some money.
Thanks in Advanced
(I have searched but couldn't find an answer)
I am about to start a new contracting role and this time want to make sure I am getting what I should, if I choose to switch to an Umbrella Co from PAYE.
My hourly rate through PAYE will be £24 an hour + Holiday on top of that. I work that out as 24 + 12.07% = £26.88p
(I understand the holiday will only be paid on days off but will get to me eventually)
Now if I switch to an Umbrella the agent confirmed that they would cover the National Insurance Uplift on top. Now does that mean I should be expecting to receive £26.88p (rate & Holiday) plus an additional 12% for Employers NI (total £30.10)?
I ask as when the agent gave the figures to his "recommended umbrella company" prior to talking to me they only quoted me a rate of £26.88 per hour?
Which doesn't work out any better if I just stayed on PAYE?
Can someone please confirm I am correct in thinking he has either missed off the holiday or NI Uplift - As I want to go back to the agent to sort this out, and I'd appreciate some assurance that I am in the right and he is trying to himself save some money.
Thanks in Advanced
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