Right, I hav ebeen working my first contract, first job since finishing uni, for 3 months or so, and a friend has told me about working under an umbrella company. I got a projection of my income if i went with K&B (the one i was told about) and it was over £150 a week more than what I take home at the moment.
Now, K&B are charging me £13.50 a week to do all the paper work, which sounds rather cheap, my hourly rate has gone up by £2.50, and I can claim 40p for every mile I travel. As well as travel expenses, I have been told I am entitled to £20 a day for being out of the house for 10 hours, and £9 for lunch. THis all amounts to me only paying tax on minimum wage! (about £10 tax, and £13 NI employee+employer)
I'm slightly worried that I appear to be getting quite a lot in return for not much, which sounds too good to be true! Am I gonna have the Inland Revenue knocking on my door in April asking for a big wad of cash to cover my unpaid taxes? And also, are K&B any good? I guess it is too late now, as I have already siged up, but I would liek to be prepared for the worst!
Thansk a lot
Now, K&B are charging me £13.50 a week to do all the paper work, which sounds rather cheap, my hourly rate has gone up by £2.50, and I can claim 40p for every mile I travel. As well as travel expenses, I have been told I am entitled to £20 a day for being out of the house for 10 hours, and £9 for lunch. THis all amounts to me only paying tax on minimum wage! (about £10 tax, and £13 NI employee+employer)
I'm slightly worried that I appear to be getting quite a lot in return for not much, which sounds too good to be true! Am I gonna have the Inland Revenue knocking on my door in April asking for a big wad of cash to cover my unpaid taxes? And also, are K&B any good? I guess it is too late now, as I have already siged up, but I would liek to be prepared for the worst!
Thansk a lot
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