Exposing the facts!
It is highly suggested that you should know these nine popular myths of umbrella services. Question yourself, are you really in safe hands? Are you sure that the money comes into your account is 100% legal and you are not blacked out in any way. Always make sure that you keep an eye on latest HMRC updates so that you know exactly how it actually works and what is being done.
Myth #1 – I can keep 90% of my pay by choosing a right umbrella company
A compliant umbrella service provider is aligned with UK employment tax laws and are applied to all workers. As per the law, all contractors are subjected to national minimum wage policy. Compliant umbrella companies employ contractors and operate Pay As You Earn (PAYE) income tax and National insurance contributions. Hence it is not reasonable to believe that any compliant umbrella company would be promising their contractors for 80% – 90% take home. Continue reading “Nine popular myths about Umbrella Companies”