hi all,
I’m signing with an agency (manpower, any good?) on tuesday driving a 7.5t. 
handballing 25k sacks of charcoal 
but hey a jobs a job. and I noticed on another job asking for self employed, paye and UMBRELLA, can anyone tell me what an umbrella is… (not the obvious one that keeps you dry, before someone says it.)
I have seen a mention of it in one of the posts on here, but can’t remember which one. 
good luck to all those in training, and well done to those that passed.
Phil
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oooo! I just tried the search button and it pulled up what i was looking for 
but would still like to hear your views on them.
Hi Mate its the same as going self employed you can use an Umbrella company ie normaly an accountancy firm who set up everything for you …then take the tax and their cut before they pay you but its not to bad with a lot of Plus points …Im with PML accounting look them up I get /45 p fuel allowance for travel to and from a job / £5 a day meal allowance / work clothes /cleaning / all comes off my tax bill and more .
manpower better than most out their …
ooh ok thanks for that, I’m guessing their cut doesn’t leave you worse off than paye? I’m actually going in as paye, but was interested.
thanks thugz. they did sound ok on the phone.
I to am with PML and can assure you that you “take home” more as Ltd than PAYE even after their cut. I have personally had no problems at all with them, paid on time, in full, no questions. I have also become a receipt collector, for tax purposes of course.
YAMBOL57:
Hi Mate its the same as going self employed you can use an Umbrella company ie normaly an accountancy firm who set up everything for you …then take the tax and their cut before they pay you but its not to bad with a lot of Plus points …Im with PML accounting look them up I get /45 p fuel allowance for travel to and from a job / £5 a day meal allowance / work clothes /cleaning / all comes off my tax bill and more .
PML set up a LTD COMPANY for you and you become the Director. Only pay when you earn.
Umbrella Companys, you work for them and they invoice the agency you have worked for. pay even if you don’t earn.
Let’s keep this simple.
You have a choice from three (usually) options:
PAYE
The usual method for an employed person. Tax and NI is deducted at source (when you are paid).
Limited Company
You or your accountant can set-up a Limited Company. You are an employee of that company. This has the most tax advantages but requires accounts to be filed every year. You can claim tax relief on everything you can claim for under an umbrella scheme and much more besides; tax free dividend payments, lower NI contributions, use of your home as an office, etc.
Umbrella Scheme
You pay a separate Limited Company to ‘employ’ you. They then ‘help’ you claim tax allowances on mileage, some meals, etc. Umbrella companies are usually owned by the agency you are working for. They will charge you a fee for this, usually about £20 to £30 a week. There is usually an additional cost to you known as Salary Sacrifice. This is why many agencies try to push you in this direction.
Personally, I have used the first two on many occasions, I wouldn’t touch an umbrella scheme with a barge-pole. PAYE is the simplest way for most people. A Limited Company is good if you keep your accounts in order or have an accountant do it for you. Whichever way, it will still leave you better-off than an umbrella scheme or (usually) PAYE.
Also remember:
If you choose an Umbrella scheme, you can only reclaim tax on money you actually spend and on mileage. For most of us this is at 20%. You must keep all meal receipts, etc.
But take professional advice before you choose, particularly if you are considering an umbrella scheme.
OnlyAlan:
Let’s keep this simple.
You have a choice from three (usually) options:
PAYE
The usual method for an employed person. Tax and NI is deducted at source (when you are paid).
Limited Company
You or your accountant can set-up a Limited Company. You are an employee of that company. This has the most tax advantages but requires accounts to be filed every year. You can claim tax relief on everything you can claim for under an umbrella scheme and much more besides; tax free dividend payments, lower NI contributions, use of your home as an office, etc.
Umbrella Scheme
You pay a separate Limited Company to ‘employ’ you. They then ‘help’ you claim tax allowances on mileage, some meals, etc. Umbrella companies are usually owned by the agency you are working for. They will charge you a fee for this, usually about £20 to £30 a week. There is usually an additional cost to you known as Salary Sacrifice. This is why many agencies try to push you in this direction.
Personally, I have used the first two on many occasions, I wouldn’t touch an umbrella scheme with a barge-pole. PAYE is the simplest way for most people. A Limited Company is good if you keep your accounts in order or have an accountant do it for you. Whichever way, it will still leave you better-off than an umbrella scheme or (usually) PAYE.
Also remember:
If you choose an Umbrella scheme, you can only reclaim tax on money you actually spend and on mileage. For most of us this is at 20%. You must keep all meal receipts, etc.
But take professional advice before you choose, particularly if you are considering an umbrella scheme.
Think if is your Company you are the Director.
Employee = a person employed for wages or salary, especially at non-executive level.
Busmanian:
Think if is your Company you are the Director.
Employee = a person employed for wages or salary, especially at non-executive level.
You can be the main shareholder (owner) of a Limited without being a director but that is rare.
A director (or any shareholder) of a company can also be an employee of that company. This is the most common scenario by far, particularly in smaller companies.
An employee of any company can also be a director of another company or the one he works for.
Executive or non-executive does not come into it (except when you are referring to non-executive directors, who should not normally be be shareholders).
It is not a mutually exclusive situation at all - think about it.
A local shopkeeper sets up a limited company. He and his wife may both own shares. Either or both may be directors. Either or both may be employees on PAYE. If they both own shares they will both be able to draw tax-free dividends from the company. This is the normal way of doing things in a Limited Company.
OnlyAlan:
Busmanian:
Think if is your Company you are the Director.
Employee = a person employed for wages or salary, especially at non-executive level.
You can be the main shareholder (owner) of a Limited without being a director but that is rare.
A director (or any shareholder) of a company can also be an employee of that company. This is the most common scenario by far, particularly in smaller companies.
An employee of any company can also be a director of another company or the one he works for.
Executive or non-executive does not come into it (except when you are referring to non-executive directors, who should not normally be be shareholders).
It is not a mutually exclusive situation at all - think about it.
A local shopkeeper sets up a limited company. He and his wife may both own shares. Either or both may be directors. Either or both may be employees on PAYE. If they both own shares they will both be able to draw tax-free dividends from the company. This is the normal way of doing things in a Limited Company.
Well id better work hard as I don’t want to sack myself! lol
Busmanian:
Well id better work hard as I don’t want to sack myself! lol
And have to sue yourself for wrongful dismissal. 
