Help - understanding a Umbrella Company

**LisaContractorUmbrella** · 8 December 2011, 11:13

Originally posted by Nick1953 View Post

I am quite new to contracting but i am little bit confused. I have been with an umbrella company for almost a year. I need to apply for a mortgage and the bank have requated that i provide net and gross figures for the year. she said i would normally get these from my accountant.

Would the Umbrealla company be able to provide me these? or do i get them from my P60?

I take it i am employed by the Umbrella company so i would be a PAYE or i am still classed as self employed.

am confised... can someone help clarify...

Nothing worse than being confised

You are an employee of the umbrella company and you should be being paid through PAYE. Your umbrella company should send you a payslip each time that you are paid and should provide you with a P60 at the end of the financial year i.e. April. The bank may need a statement of earnings - your umbrella company will be able to produce that for you.

HTH

**Nick1953** · 8 December 2011, 11:26

Thanks for clearing that up for me... Spoke to a few collegues and no one could give me a clear answere..

You explaination is much appreciated...

**LisaContractorUmbrella** · 8 December 2011, 13:42

Originally posted by Nick1953 View Post

Thanks for clearing that up for me... Spoke to a few collegues and no one could give me a clear answere..

You explaination is much appreciated...

You're welcome Nick1953

Help - understanding a Umbrella Company