Quote:
Originally Posted by iron_lady
why is it that my 'brolly' pass this fee onto me and yet a direct employer will not?
do you know how I would go about finding the calculations to work out how much employer NIC is being charged?
The contracts that I mentioned before are both similar rates. They are both around £500 a day (PAYE) and £550 Umbrella. this means I'm going to be earning £250 (gross) more a week working through an umbrella. I am aware that I can claim expenses etc each week, but these are going to be minimal as I am only around a 15 mile commute from my intended place of work.
Will this extra £250 a week cover all the extra costs I will be incurring?
IL
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This is a VERY common question IL and may I say it's lovely to see you in the Hot Tub. I was getting quite worried about the growing sexual chemistry between curleyted and dodgy Dave – perhaps with you around, they may tone it down a bit.
The extra £250 gross per week MAY be enough to offset the additional ERR’s NIC you’ll pay through an Umbrella but you’ll need to work the numbers through yourself I’m afraid. Factors such as expenses, tax code, pension contributions, and child care vouchers all have an impact on the amount of ‘salary’ you take from an Umbrella (the ERR’s NIC being calculated on this salary).
Have a look at…..
Agency Uplift Calculator
http://www.freelancesupermarket.com/...ry-uplift.aspx
Umbrella Calculator
http://www.freelancesupermarket.com/...alculator.aspx
Also please feel free to send me a private message whenever you want. I’m available most Friday evenings from about 11.30pm onwards
General Meister Smudge