Parasol = Thats a lot of deductions!

[jet spanner]

Cheers Wary, there is a 24 quid difference. I will ask parasol once they have replied to the mystery deduction!

Thats pretty much what I calculated the employment costs to be on the other thread. This means their margin is £51.50. Does that make them the most expensive umbrella company in the U.K.

[The Spartan]

I would reckon so

[The Spartan]

Total Pay = 4,250
Expenses = 1330
Umbrella Margin = 119.50
Employment Costs = 429
Employee NI = 211
Tax = 224

Total net pay = 3,264

Both the umbrella margin and employment costs were deducted before the tax and NI from what I can see

[malvolio]

Total Pay = 4,250
Expenses = 1330
Umbrella Margin = 119.50
Employment Costs = 429
Employee NI = 211
Tax = 224

Total net pay = 3,264

Both the umbrella margin and employment costs were deducted before the tax and NI from what I can see

They would be, since these are expenses and hence reclaimable. Rather than pay them out and reclaim the non-BIK via the P11D at year end, the umbrellas simply deduct them from the gross before tax. It's one of the ways they make you think you're getting something for nothing.

[Wary]

Total Pay = 4,250
Expenses = 1330
Umbrella Margin = 119.50
Employment Costs = 429
Employee NI = 211
Tax = 224

Total net pay = 3,264

Both the umbrella margin and employment costs were deducted before the tax and NI from what I can see

From these figures, I calculate your Employers NI as approx £268. Even if the Employment Costs include their £119.50, this is still less than the £429 you quote!

[The Spartan]

They would be, since these are expenses and hence reclaimable. Rather than pay them out and reclaim the non-BIK via the P11D at year end, the umbrellas simply deduct them from the gross before tax. It's one of the ways they make you think you're getting something for nothing.

Understood by how is it my tax is 224 when on other calculators it should be 387?

[The Spartan]

From these figures, I calculate your Employers NI as approx £268. Even if the Employment Costs include their £119.50, this is still less than the £429 you quote!

It's really odd the payslip is a puzzle of numbers and their margin is taken out with the employment costs and they're not combined so it's 4250 - 429 + 119 = 3702

From this 3702 the rest is then taken like tax, NI, expenses etc

[Wary]

It's really odd the payslip is a puzzle of numbers and their margin is taken out with the employment costs and they're not combined so it's 4250 - 429 + 119 = 3702

From this 3702 the rest is then taken like tax, NI, expenses etc

If they're deducting £119.50 IN ADDITION to the £429 employment costs, then it sounds like they really are shafting you mate!

[malvolio]

If they're deducting £119.50 IN ADDITION to the £429 employment costs, then it sounds like they really are shafting you mate!

What I don't get is why someone on £850 a day is using an umbrella and worrying over the odd hundred quid when they're paying around £2k extra tax a month.... Still, to each their own, I suppose.

[jet spanner]

If they're deducting £119.50 IN ADDITION to the £429 employment costs, then it sounds like they really are shafting you mate!

yep, we're being shafted