Take Home Pay of 85%+

[mobad]

Good Afternoon All,

I am currently a contractor for an IT Company and through an umbrella company I am receiving an income at around 63% only.

Recently a few companies I have come across that state a minimum of 84% take home rate and its completely legit.

I am relatively new to contracting, so any advise/recommendation on which companies are in the safe zone and can guarantee a take home rate of 85%+ would be really useful.

Thank You

[stek]

I am relatively new to contracting....

...and using the search function - this has been asked a dozen times, prepare to get piled on when the big boys arrive here!

[Support Monkey]

Do you want to tell him or shall I

[GillsMan]

85?! You'd be mad not to take it. Right? RIGHT?!

[mobad]

Ok I have done some reading and seems very risky but is 63% not a low take home percentage especially when I put down around £250 worth of expenses per week?

[Clare@InTouch]

Ok I have done some reading and seems very risky but is 63% not a low take home percentage especially when I put down around £250 worth of expenses per week?

It depends what your income is, what the expenses are and how you're withdrawing the money.

We'd need more information in order to make a judgement or recommendations.

[TheFaQQer]

It depends what your income is, what the expenses are and how you're withdrawing the money.

Surely there aren't many options when going through an umbrella?

[northernladuk]

Maybe the OP's applys his complete lack of attention to his finances as he does to where he posts.

You have posted this in the Business/Contracts section..

It should be in Accounting/Legal... which, if you had tried to post it there, has a sub section dedicated to... <drumroll> Umbrella companies.

[malvolio]

Ok I have done some reading and seems very risky but is 63% not a low take home percentage especially when I put down around £250 worth of expenses per week?

Not that shabby. 60%-65% for a brolly is about par for the course, 70%-75% for a Ltd. I'd say (a) you're on the average and (b) you're following the rules.

So stop whining. Or go Limited.

HTH

[northernladuk]

You have been using a brolly since 2007?????

http://forums.contractoruk.com/accou...ing-costs.html