Can someone explain pls:
"Rates based on LTD or UMBRELLA PAYE:
£11.50 per hour Nights Weekdays (22:00 – 05:59)"
ETS:
Can someone explain pls:"Rates based on LTD or UMBRELLA PAYE:
£11.50 per hour Nights Weekdays (22:00 – 05:59)"
The LTD is if you have your own limited company, Umbrella is a bit of a strange one, if you sign up with an agency you can go PAYE (Pay As You Earn) like if you were working for a normal haulage firm, with Umbrella, you do the work for the agency, but are employed by the (Umbrella) company. This in theory lets you claim mileage and other stuff, but it costs, you pay a fee to the (Umbrella) company. Go to google and check out Umbrella companies, I personally think it’s a bit dodgy, the HMRC are supposedly looking in to these types of operations.
ETS:
Can someone explain pls:"Rates based on LTD or UMBRELLA PAYE:
£11.50 per hour Nights Weekdays (22:00 – 05:59)"
Can’t explain…£11.50 night rate,how’s that possible■■?
noisycarl:
The LTD is if you have your own limited company, Umbrella is a bit of a strange one, if you sign up with an agency you can go PAYE (Pay As You Earn) like if you were working for a normal haulage firm, with Umbrella, you do the work for the agency, but are employed by the (Umbrella) company. This in theory lets you claim mileage and other stuff, but it costs, you pay a fee to the (Umbrella) company. Go to google and check out Umbrella companies, I personally think it’s a bit dodgy, the HMRC are supposedly looking in to these types of operations.
Ah, I see…kind of. I always thought umbrella is some kind of a sub-layer for LTD, never came across an “Umbrella+Paye” before. That would explain the 2 pounds fee I see on each of my weekly payslips at my current agency.
lynchy:
Can’t explain…£11.50 night rate,how’s that possible■■?
It’s for class 2.
lynchy:
Can’t explain…£11.50 night rate,how’s that possible■■?
Going rate where I am.
Umbrella is a system where you are on PAYE but it is a payroll firm that employs you not the agency, the agency then dodges having to pay you holiday pay and employers national insurance.
The umbrella company then charge you a small fee for putting through your wages, they also charge you the employers national insurance as well as your own and if you ask about holiday pay they will say it is included in your hourly rate.
So the reality is that the headline rate quoted of £11.50 will drop to about £8.50 after all the extras are deducted, you can claim some travel and food allowances but they want receipts for everything and it’s just not worth the effort.
It is dodgy but still allowed by hmrc for now, not worth doing for class 2 unless you are offered a high headline rate of £15+ or are desperate/it’s a job you really want/within a mile of home.
You really need to ask agencies about paye/holiday pay/other deductions before you agree to take any work better still before you actually go for interview, if you don’t ask first you will only find out after you have taken the job…
Sent from my SM-N910F using Tapatalk
ETS:
Can someone explain pls:"Rates based on LTD or UMBRELLA PAYE:
£11.50 per hour Nights Weekdays (22:00 – 05:59)"
If it’s only an 8 hour shift less breaks on umbrella less deductions you will be taking home about £50 for working nights, not worth bothering about unless you are desperate or you can sleep most of it…
Sent from my SM-N910F using Tapatalk
noisycarl:
with Umbrella, you do the work for the agency, but are employed by the (Umbrella) company.
AFAIK that is incorrect, the scenario is that the agency put you in touch with the Umbrella Co, who set you up as a (self employed) limited Co and employee of your own company, the umbrella Co then invoice the agency according to the hours you’ve worked and receive monies on your behalf, they then (then like a bookkeeper) process the payroll, taxes, NI etc for a set fee or percentage of the invoice. Then pay you the residual monies into the bank
Ask if you get a holiday pot that builds up at 12.07% of your hourly rate. A pot that doesn’t go down, and can be drawn on at any time, subject to the usual tax and NIC deductions.
“Umbrella PAYE” should include Holiday pay at very least.
If the firm goes ■■■■-up, then make sure that they handed over your deducted monies to the HMRC - or they’ll chase you twice for the same momey. 