Umbrella Company UK Calculator

Have a look at our comparison site to see which umbrella company is right for you

To put it simply, an umbrella company has two primary functions:

1). To act as an employer to provide an efficient and accurate PAYE payroll service for contractors, while ensuring they remain compliant at all times.

2). This is the business activity an umbrella will carry out as an employer. The only income umbrella companies receive is that which is brought in by their employees, and covers all the costs related to our role as the employer.

Calculate your tax and National Insurance contributions

The umbrella company administers your PAYE payroll and so deducts the necessary tax and NI from your pay. Your payslip will list the contributions made. There is no need to file any tax returns as the umbrella company has done it all for you.

What happens at Compare The Umbrella?

Use our comparison calculator tool to find the best option for you. If you would prefer a more personal approach by telephone, please give our client liaison team a call on 0161 464 4701. Once you've signed up to the umbrella of your choice, you'll need to provide them with proof of ID, your address and P45. They will then get in touch with your agency to request a copy of your contract. You become an umbrella employee under an overarching contract, with a view to carrying out a succession of assignments for various agencies/clients during the course of that employment. To enable you to work for an end client, your umbrella will enter into a contract with your agency. You carry out your contracted duties at the temporary workplace.

You email your timesheets to your umbrella company, and they'll invoice your agency. The agency or end client will pay your umbrella a contract rate to cover payments for the work you have completed. This will also include all the costs related to your employment such as employers NICs and holiday entitlement. This rate is higher than if you were paid PAYE directly by the agency / end client, to cover these additional costs.

On the day the agency releases the funds, your umbrella company will process the payment and make deductions for Income Tax, NICs, and take their admin fee. The process is now complete! You'll receive a text or email when your payment is on its way.

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Umbrella Company UK Calculator

Have a look at our comparison site to see which umbrella company is right for you

To put it simply, an umbrella company has two primary functions:

1). To act as an employer to provide an efficient and accurate PAYE payroll service for contractors, while ensuring they remain compliant at all times.

2). This is the business activity an umbrella will carry out as an employer. The only income umbrella companies receive is that which is brought in by their employees, and covers all the costs related to our role as the employer.

Calculate your tax and National Insurance contributions

The umbrella company administers your PAYE payroll and so deducts the necessary tax and NI from your pay. Your payslip will list the contributions made. There is no need to file any tax returns as the umbrella company has done it all for you.

What happens at Compare The Umbrella?

Use our comparison calculator tool to find the best option for you. If you would prefer a more personal approach by telephone, please give our client liaison team a call on 0161 464 4701. Once you've signed up to the umbrella of your choice, you'll need to provide them with proof of ID, your address and P45. They will then get in touch with your agency to request a copy of your contract. You become an umbrella employee under an overarching contract, with a view to carrying out a succession of assignments for various agencies/clients during the course of that employment. To enable you to work for an end client, your umbrella will enter into a contract with your agency. You carry out your contracted duties at the temporary workplace.

You email your timesheets to your umbrella company, and they'll invoice your agency. The agency or end client will pay your umbrella a contract rate to cover payments for the work you have completed. This will also include all the costs related to your employment such as employers NICs and holiday entitlement. This rate is higher than if you were paid PAYE directly by the agency / end client, to cover these additional costs.

On the day the agency releases the funds, your umbrella company will process the payment and make deductions for Income Tax, NICs, and take their admin fee. The process is now complete! You'll receive a text or email when your payment is on its way.

Read More

The quickest way to get
the best take home pay

Stop losing your hard earned cash!

Fill in your details below and start saving now!

Your information is safe: Privacy Policy