Yes that is the rate that hays are paying me currently.
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Is Umbrella Company Right For Me?
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Originally posted by Masetw123 View PostYes that is the rate that hays are paying me currently.Comment
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What Lisa is saying (i think) is that they are giving you the same rate PAYE as umbrella - there should be an increase in rate to cover the Employers NI at the very least.Comment
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When asking for the new rate just tell them you are going umbrella rather than PAYE and would like the Ltd comp rate.
If its not different (which I would think it will be) explain that this will mean in essence you are paying Employers NI twice (once by the umbrella from the rate, and once with the part Hays were paying for you when you were PAYE, and it not coming in your ltd rate)
There really should be the holiday part too.Comment
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Originally posted by Masetw123 View PostIn what way would you mean worse off? Less take home pay?
HTHComment
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Hi i got onto hays and they have confirmed that my rate of pay will be £12.30 if i switch over to an umbrella company. Would this then be worth my time? as i dont want to switch over to a company where i will be worse off.Comment
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Based on the info you have provided this would be your take home 37.5 hours @ £12.30 per hour with £80 pw. expenses:
Income 461.25
Expenses 80.00
Employer's NI 25.19
Employee's NI 21.91
Employee Tax 33.94
Total All Tax 81.04
CU Margin 27.50
Total Net Income 349.74
Would that leave you better off than you are now?Comment
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Well at present i take home £303.81 but also have 45.27 holiday pay taken out every week? so yes i would be slightly better offComment
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