pay frequency decision

[biton]

Hi,

I work with an umbrella company and my agency gave me an option to get paid weekly, fortnightly or monthly. Now it makes very little difference to me but is there a difference between the three tax wise?

Will one option be more beneficial from a take-home perspective?

Thanks

[scooterscot]

If it's all PAYE already makes no difference. I'd probably choose monthly myself less temptation to spend more temptation to save...

[thunderlizard]

No difference. Choose monthly if you're used to having a proper salary; weekly if you're used to working cash in hand on a building site; fortnightly if you want to alternate weeks with your giro.

[TheFaQQer]

If you've got an offset mortgage, then the quicker you get the money, the better.

Take it weekly.

[james14]

Fees for four weekly payments are higher than for one monthly.

[shaftedcontractor]

Fees for four weekly payments are higher than for one monthly.

What fees?

[Epiphone]

fortnightly if you want to alternate weeks with your giro.

[spiderlover]

What fees?

The umbrella service fees.

Parasol charge a weekly fee of £25.95 per timesheet you enter but if you go on monthly, it's £61.95. I had the choice of weekly or monthly and chose monthly as it saves me about £500 per year!