Umbrella company

RE: Umbrella company

Sal the 1st — Tue, 27 Sep 2016 19:17:44 GMT

in that case practice payroll might be your best bet?

RE: Umbrella company

Gemma Clinch — Tue, 27 Sep 2016 12:09:57 GMT

Hi thankyou for the information! I have been self employed in the past however took a year out travelling. On my return I am actively seeking other jobs not within the veterinary world but want to locum to tide me over, so it really isn't permanent hence why I don't want to register as self employed and get an accountant again as hopefully I won't be doing this for too long. So I'm in a bit of a dilemma as to what my best option is for short term locuming?!

RE: Umbrella company

Sal the 1st — Tue, 27 Sep 2016 08:39:36 GMT

That was the way I did it Kirsty - honestly folks it isn't difficult to sort out your own tax and NI - if I could do it I am sure most of you could. The other way to do this is go on the practice payroll and most practices will do this for you if you ask - that way your tax/NI is deducted at source.

RE: Umbrella company

Kirsty RVN — Mon, 26 Sep 2016 23:50:59 GMT

Hi Gemma

Avoid umbrella companies!!!

I have just finished 8 months of locum work and the thing that agencies or umbrella companies don't tell you is that as well as employee tax and national insurance and the umbrella overhead fee you are also paying employer tax for the company saving them millions a year which is why they don't tell you. Unfortunately they are exploiting a rather gray area.

I have looked into it and as an employee of the umbrella company you should not be paying employertax/NI but once it is paid it is difficult to get it back.

I worked 7 on 7 off at £15 and paid a fortnight at a gross rate of £1260. I was actually paid £600 which works out at £8 per hour. The same rate as a permanent nurse but without employer benefits. If I was working the same rate and hours as a permanent nurse after tax I would have been paid £1060 a fortnight so that is a massive deduction.

Also due to a change in legislation you are no longer aloud to claim expenses to offset your tax and if a umbrella company does than you will be liable for a tax bil.

I have just come out of locum work as I learnt the hard way so unless you want to pay two lots of tax and NI as well as company fee I would avoid them as it is not worth it. You will take home 50% of your earnings if lucky.

For long term locum work I would do it self employed.

Kirstie

RE: Umbrella company

Gemma Clinch — Mon, 12 Sep 2016 04:09:40 GMT

Thankyou!

RE: Umbrella company

Rachel Woodcock — Sun, 11 Sep 2016 12:24:30 GMT

Avoid macpro! Very slow and constantly had to chase up invoices!

liquid fri is great in my experience - I was the first RVN that had used them but I really can't fault their service!

RE: Umbrella company

Sal the 1st — Sun, 11 Sep 2016 11:24:57 GMT

if you put umbrella companies in the search bar on here there are 106 results - from very recent to historic - this has to be one of the most asked questions - loads of info, it might give you an idea which ones to avoid too