Request a Bespoke Umbrella Calculation
Our online calculator makes an assumption that you are on a standard tax code and allocates one tax free period as we are not aware of your earnings to date. So if you would like us to provide you with a more accurate Take Home figure then please complete the form below and we can provide you with a bespoke umbrella calculation.
Differing Take Home Pay Claims
Have you received other take home pay calculations which differ? No umbrella company can offer a higher take home over any other if they are operating compliantly within HMRC guidelines, so if you have received differing figures, or seen offers of 85% take home, then please do take a moment to look at this page which explains the risks you could be putting yourslef at if you fall for one of these schemes. So take at look here at AUCAE, the industry resource site for contractors, agencies and end clients.
Self Employed & Working Via An Umbrella Company
Other solutions we have seen, offer up to 90% take home pay! The umbrella company contracts with recruitment agencies for the supply of ‘self-employed’ consultants (sole traders). Unfortunately, recruitment agencies won’t deal with sole traders directly as, under the Income Tax (Earnings and Pensions) Act 2003, such arrangement could result in the agency having to ensure that PAYE and NI are deducted from payments made to contractors who are under the direction/supervision of the end client.
Some contractors have fallen for high take home pay claims.
Popular contractor website, ContractorUK has attracted many people who have used these types of scheme. Most are now facing crippling bills from HMRC – you can read some of their comments here.
Be warned, these threads don’t make very pleasant reading. Many contractors were attracted to adverts for 80%-90% take home pay. The schemes have failed and the individuals are facing bankruptcy, losing their homes, family breakups, depression and despair.
If it seems too good to be true then it very probably is!