Missing £ between gross and net pay

[amski]

Hello
Did some simple calculations today, and seems to be a discrepancy between my gross and net pay. I am with a major accounting companies umbrella services, so you'd think it's all kosher, but....

Be interested to know if you have any advice. I am chasing the umbrella payroll admin of course. Day rate £475:
a) Income/Expenses
Gross Salary £12,350.00
Expenses £2344.20
TOTAL £14694.20 (income)

b) Deductions
Holiday £1330.10 (they take this off automatically, which annoys me)
PAYE Tax £2217.38
NI Employee £147.86
Other £165 (360 payroll services)
Employers' NI £954.41
TOTAL £4814.75 (deductions)

a-b= £9879.45 (EXPECTED NET)
Whereas Payroll NET PAY = £7535.25
Difference = £2344.22

No other obvious tax/NI deductions on the payslip, so wondering of course where my £2.3k has vanished?

Cheers.
Amski

[Robot]

Hello
Did some simple calculations today, and seems to be a discrepancy between my gross and net pay. I am with a major accounting companies umbrella services, so you'd think it's all kosher, but....

Be interested to know if you have any advice. I am chasing the umbrella payroll admin of course. Day rate £475:
a) Income/Expenses
Gross Salary £12,350.00
Expenses £2344.20
TOTAL £14694.20 (income)

b) Deductions
Holiday £1330.10 (they take this off automatically, which annoys me)
PAYE Tax £2217.38
NI Employee £147.86
Other £165 (360 payroll services)
Employers' NI £954.41
TOTAL £4814.75 (deductions)

a-b= £9879.45 (EXPECTED NET)
Whereas Payroll NET PAY = £7535.25
Difference = £2344.22

No other obvious tax/NI deductions on the payslip, so wondering of course where my £2.3k has vanished?

Cheers.
Amski

£2,344.22 seems to be your expenses figure, have you given them all the receipts () they require to process your expenses claim ?

Robot

[TykeMerc]

Hello
Did some simple calculations today, and seems to be a discrepancy between my gross and net pay. I am with a major accounting companies umbrella services, so you'd think it's all kosher, but....

Be interested to know if you have any advice. I am chasing the umbrella payroll admin of course. Day rate £475:
a) Income/Expenses
Gross Salary £12,350.00
Expenses £2344.20
TOTAL £14694.20 (income)

b) Deductions
Holiday £1330.10 (they take this off automatically, which annoys me)
PAYE Tax £2217.38
NI Employee £147.86
Other £165 (360 payroll services)
Employers' NI £954.41
TOTAL £4814.75 (deductions)

a-b= £9879.45 (EXPECTED NET)
Whereas Payroll NET PAY = £7535.25
Difference = £2344.22

No other obvious tax/NI deductions on the payslip, so wondering of course where my £2.3k has vanished?

Cheers.
Amski

Expenses = £2.3k = vanished amount coincidence?

Are those expenses supposed to be rechargable (as stated in your contract) or are you mistaking expenses for an additional income stream?

[LisaContractorUmbrella]

From the information you have provided it seems that you were expecting your expenses to be fully reimbursed i.e. be chargeable to your agency/client. If your agency/client has not agreed to reimburse your expenses they will be processed as a tax benefit by the umbrella company which effectively means that your gross taxable income will be reduced by the value of the expenses.

HTH

[NotAllThere]

...they take this off automatically, which annoys me...

So go ltd.

[MarkOD]

I think Lisa has got this one spot on, it would be a huge coincidence if this wasn't the issue. make sure if it is recharageable that the Umbrella know it is otherwise they'll just offset it which will be less beneficial than having it reimbursed

[Emigre]

Lisa's explaination also stacks up with the PAYE tax deduction which otherwise looks low.

[gingerjedi]

It still amazes me that some people don't know the difference between chargeable expenses and non taxable expenses, I know someone who took a contract further away from home just so he could claim more.

[amski]

Idiots allowed too

Well excuse me for breathing!
The whole point of these forums is that 'idiots' like me can ask stupid questions :-)

[NotAllThere]

Don't take it personally. There are no stupid questions.