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Sid
18th January 2012, 16:05
I am planning to go contracting, and have not dealt with Umbrella companies before.I need the following information to ensure my contracting is compliant with UK border agency norms:-
1.)How does a contractor payslip look compared to a permie one?i.e.,What are the deductions besides employer's and employee NI,Income Tax and Umbrella fees?
2.)Will a umbrella company have a UK certified chartered accountant who will be able to give me a breakdown of my gross and net earnings at the end of the year?

MrRobin
18th January 2012, 16:14
When I used a brolly, there were two sections to the payslip. The first bit worked out what my Gross pay was, and included deductions such as employer's NI and umbrella fees. The second bit took the result from the first bit (gross) and applied all the usual deductions for any employee anywhere in the UK i.e. employer's NI, PAYE, student loan etc. to calculate my net pay

The brolly should provide you with a P60 every year to show your total earnings, like any other employer would.

Sid
30th January 2012, 14:31
Also,2.)Will an umbrella company provide me an employment letter and stamped payslips?
3.) if its not year end for a P60, will an umbrella(upon request) give me a breakdown of my gross and net earnings for a period of earning and signed by a certified chartered accountant?

stek
30th January 2012, 14:46
Also,2.)Will an umbrella company provide me an employment letter and stamped payslips?
3.) if its not year end for a P60, will an umbrella(upon request) give me a breakdown of my gross and net earnings for a period of earning and signed by a certified chartered accountant?

Doubt whether u'd get the latter, 'stampings' are not normal practice - why do you want that, sounds like an Indian thing.

An accountant is either Certified or Chartered (IIRC) not both unless he/she is qualified in both which is rare but possible.

Clare@InTouch
30th January 2012, 14:57
Doubt whether u'd get the latter, 'stampings' are not normal practice - why do you want that, sounds like an Indian thing.

An accountant is either Certified or Chartered (IIRC) not both unless he/she is qualified in both which is rare but possible.

ACCA qualified people are known as Chartered Certified - The Association of Chartered Certified Accountants. The English and Scottish Institutes are Chartered only. There are of course a few others too!

OP - an Umbrella can provide payslips, but if you want a letter showing income then you're more likely to get that from an accountant if you ran a limited company of your own.

Sid
30th January 2012, 15:03
Doubt whether u'd get the latter, 'stampings' are not normal practice - why do you want that, sounds like an Indian thing.

An accountant is either Certified or Chartered (IIRC) not both unless he/she is qualified in both which is rare but possible.

Very much an Indian thing, or Canadian,Aussie.:wink..Read Payslips (http://www.ukba.homeoffice.gov.uk/visas-immigration/working/tier1/general/supportingevidence/previousearnings/Payslips/)