PDA

View Full Version : Receive up to 80% of your pay.



singhie
9th June 2011, 14:45
Hi,
You see advertisements by Umbrella companies saying "Receive up to 80% of your pay"?

Does anyone know how this works?

Or direct me to a post were this has been discussed before please?

Could someone recommend of these Umbrella Company?

Regards

Singhie
:confused:

sbsshadow
10th June 2011, 06:01
Yes, morning all

I would like to know if anyone knows of any umbrella that actually does this ?

I have rang round a few now , and it always comes out to approx 70% , even though on their www it says 80 and in some cases more !

Thanks all

Steve

LisaContractorUmbrella
10th June 2011, 08:20
Yes you can take home 80,90 or even 100% of your earnings - the most typical ways are to claim for expenses that you haven't incurred (although this does tend to aggravate HMR&C and you are likely to find yourself paying back far more than you managed to fiddle) or living on 3 shillings and sixpence a week and putting the rest of your earnings into a pension. You could also try using a 'scheme' which a 'leading QC' will have looked at - unfortunately this also aggravates HMR&C (please refer to point 1).

If you are tax resident in the UK and live in the UK and work through a compliant umbrella company you will be paid through PAYE and you will be able to claim certain costs that you incur as expenses provided that you have a receipt for them but your take home pay absolutely, definitely, categorically cannot be 'guaranteed' to be over 80%

HTH

Steven@Parasol
10th June 2011, 08:31
Just to follow on from Lisa's comment.

The only real difference you should see when comparing 'correctly structured' umbrella companies is their fee.

LisaContractorUmbrella
10th June 2011, 08:34
And their service levels :wink