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Umbrella company: Employer's tax deductions document?

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    Umbrella company: Employer's tax deductions document?

    Hello everyone,

    I've been lurking on these forums this year as I am new to contracting.
    I have finally registered as I have question that I can't find answers to...

    As a permanent employee, I would get a P60 at the end of the tax year which tells me how much employee taxes I have paid.

    Is there an equivalent document from umbrella companies when they pay employer's taxes out of the money I'm bringing in?

    Without a document like this, how would I know if an umbrella company is paying the correct amount of employer's taxes for me?

    Thank you.

    #2
    Originally posted by elr20 View Post
    Hello everyone,

    I've been lurking on these forums this year as I am new to contracting.
    I have finally registered as I have question that I can't find answers to...

    As a permanent employee, I would get a P60 at the end of the tax year which tells me how much employee taxes I have paid.

    Is there an equivalent document from umbrella companies when they pay employer's taxes out of the money I'm bringing in?

    Without a document like this, how would I know if an umbrella company is paying the correct amount of employer's taxes for me?

    Thank you.
    You should get that every week / month as the money from the agency is paid for you.

    And Employer NI is like Employee NI a weekly / monthly tax so you don't need to look at it in yearly instalments as you do with a P60 and income tax.
    merely at clientco for the entertainment

    Comment


      #3
      Originally posted by elr20 View Post
      Hello everyone,

      I've been lurking on these forums this year as I am new to contracting.
      I have finally registered as I have question that I can't find answers to...

      As a permanent employee, I would get a P60 at the end of the tax year which tells me how much employee taxes I have paid.

      Is there an equivalent document from umbrella companies when they pay employer's taxes out of the money I'm bringing in?

      Without a document like this, how would I know if an umbrella company is paying the correct amount of employer's taxes for me?

      Thank you.

      You should get a weekly/monthly payslip and then a P60 also at the end of the tax year.

      Comment


        #4
        Hi, thank you for the replies.

        So I do have payslips for each week, and they show a line for "Employment Costs, Including Employer's National Insurance".

        When I was a permanent employee my paylips showed the taxes removed each month, but I would still get a P60 which summarises it at the end of the tax year and makes it easy to see how much was paid, if it was overpaid, etc. I do understand what you mean though about a weekly tax vs a yearly.

        So is it safe to say there is definitely no official yearly document that shows the total employers NI paid?
        I just need to keep an eye on it myself from each payslip?
        Am I right in saying it should be 13.8% on anything over £169.00? Or is it not as simple as that?

        Sorry if I'm not explaining it well, I'm confusing myself more and more every time I think about it

        Thanks.

        Comment


          #5
          Originally posted by elr20 View Post
          Hi, thank you for the replies.

          So I do have payslips for each week, and they show a line for "Employment Costs, Including Employer's National Insurance".

          When I was a permanent employee my paylips showed the taxes removed each month, but I would still get a P60 which summarises it at the end of the tax year and makes it easy to see how much was paid, if it was overpaid, etc. I do understand what you mean though about a weekly tax vs a yearly.

          So is it safe to say there is definitely no official yearly document that shows the total employers NI paid?
          I just need to keep an eye on it myself from each payslip?
          Am I right in saying it should be 13.8% on anything over £169.00? Or is it not as simple as that?

          Sorry if I'm not explaining it well, I'm confusing myself more and more every time I think about it

          Thanks.
          Above posts have already told you

          You get a P60 from the umbrella

          No it’s not easy as umbrellas make several deductions

          Holiday pay, apprentice levy, employer Ni etc etc


          Sent from my iPhone using Contractor UK Forum

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