What to claim for on umbrella?

Bobbysupascaff

Bobbysupascaff

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Hello lads I really need your advice on the above subject please

Basically I've had a look at an online calculator for umbrella and say it was £800 gross I'd only clear £550 odd now with expenses I won't really have any ie digs/travel etc what can I claim for and do they ask for recipts?

I've come across blokes that only lose £50 on there gross but really need your help to ' word ' the expenses

Ps I've also got the option of going limited now I've seen pig mans thread but can someone highlight the pros and cons of that please cheers boys

---------- Post added at 06:30 PM ---------- Previous post was at 06:28 PM ----------

Sorry think the payroll is called global if anyone has come across them before?
 
I'm not too sure how that one works tbh - doesnt quite seem right to me.
I thought the idea of an umberella company was to keep you self employed so you should obviously have your 20%tax feducted as normal & usually a standard fee which varies between companies but £15-£20 should cover that( as SE that fee is a trading deduction like anyother) any other deductions & i'd be asking questions.
I think as an individual it may not be viable to go ltd but you could always comtact hmrc & go on gross status
 
You can go limited as a sole trader and even have the title director lol From what I gather its 20% tax but a lot more paperwork ( which ain't my strong suit ) but it seems the way to do well out of umbrella is to lie for example

According to a tax calculator with say 800 gross with no expenses claimed I'd clear 528 ( shlte ) or if I claim say 300 I'd clear 649 ( better ) BUT I'll have no dig/travel receipts for this to back it up if you know what I mean I'm quite content to claim 400 expenses per week but I don't want to run the risk of a knock on the door from the hmrc

---------- Post added at 09:26 PM ---------- Previous post was at 09:24 PM ----------

Plus is anyone currently on umbrella paye at the moment? PM me if you would prefer ;)
 
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The nature of Umbrella payments is;

A: Self employed such as Hudson who create a division between Contractor and Company, wherein you pay a fee to be paid as a subcontractor without any engagement of rights.

B: PAYE, more common, remove your expenses prior to payment, ie. mileage, subs (food to £10 pd, washing £8 per week, travel, be it public, or mileage at £0.45 for the first 10,000. Clothing, food, tools, equipment). Still without the engagement of rights, but with a better net. This incorporates paying NI, be it Employers NI, and Individual NI to some extent

Having worked direct, Agency, Umbrella se, Umbrella PAYE, the basis is that;

Umbrella PAYE basically gives you your net return in your payments every week.

If you are SE, or a mixture of SE and PAYE, and you submit a Self Assessment, you pay tax on your profit
(Net after all your Income, minus expenses, then viewed as total, minus relevant tax payments made under the CIS, or other tax paid or owed, included in the final figure to arrive at your declaration)

Whatever rebate you receive attracts 9% NI contribution, (no stamp anymore) in addition to the tax on profit.

The wording is bizarre, but I have had a few.

I've done my own S Assessment for years, if I was Umbrella and you can, it most likely works out as good, if not better than straight Umbrella S Emp.

Hope this is of some clarification.
 
You can put in 100miles a day for travel without them asking for receipts. Just goggle a postcode 50miles from your site, you only need to put in the first half ie KT12. Also £10 food allowance a day. You'll get most of your tax back.
 
Bobby cup lock
why not just get a normal job like everyone else instead of ducking and diving
with umbrellas and ltd companys before you end up in all sorts of trouble with the tax man
companys that try and get you do these sort of things are only trying to avoid income tax and employers obligations
they dont give a toss about you or the mess it leaves you in ;)
 
philliosmaximus said:
Bobby cup lock
why not just get a normal job like everyone else instead of ducking and diving
with umbrellas and ltd companys before you end up in all sorts of trouble with the tax man
companys that try and get you do these sort of things are only trying to avoid income tax and employers obligations
they dont give a toss about you or the mess it leaves you in ;)
Click to expand...

Quite funny you say that dad just got of the phone to a firm and it's not great money BUT they would complete my part 2 and few other nice tickets and its paye, 52 wage packets a year, holiday ( paid for a change lol ) and no chasing money blah blah blah

I'm well and truly fed up of all this in truth Phil and it would be Bobby layher from now on :laugh:
 
i told you many times Bobby Layer if want a start phone me
and if you want experience with real scaffolding you are welcome to come out with me at weekends
 
philliosmaximus said:
Bobby cup lock
why not just get a normal job like everyone else instead of ducking and diving
with umbrellas and ltd companys before you end up in all sorts of trouble with the tax man
companys that try and get you do these sort of things are only trying to avoid income tax and employers obligations
they dont give a toss about you or the mess it leaves you in ;)
Click to expand...

umbrella isnt as bad as people make out its the feking agency looks it this way like bobby said he gain around 200 on his waged for a £15 - £20 fee. but what i dont know is if you can still claim a tax return after been under unbrella all year coz basicall your claming it back weekly. if you get a good umbrella they will just max your allowance out stright away i belive its in the regin of 300-400. that way you dont pay next to no tax. the last itme i did it on a flat 40 hours i paid 4o odd quid a week tax as aposed to around 140 that £15 fee made my poker £85 quid heaver. and its only the FEKING TORIES TO BLAME FO THESE ZERO HOURS CONTRACTS
 
So your no better of marra you just cant claim your rebate every year ?
so whats the benefit to you ?
 
philliosmaximus said:
Bobby cup lock
why not just get a normal job like everyone else instead of ducking and diving
with umbrellas and ltd companys before you end up in all sorts of trouble with the tax man
companys that try and get you do these sort of things are only trying to avoid income tax and employers obligations
they dont give a toss about you or the mess it leaves you in ;)
Click to expand...

philliosmaximus said:
So your no better of marra you just cant claim your rebate every year ?
so whats the benefit to you ?
Click to expand...

just on bobbys case he is in poket by 121 a week and lets say for daft ness i works 48 weeks of the year thats £5,808 back in expences over the year. i know lads get 3 4 k but thats normally over a couple of years rebate, thats the way i look at it i maight be way off the mark . also crnt comment on weather you can get a rebate as av never done 1 but by the sounds of it form mr you can still get a rebate
 
Marra its nothing to do with the tories or zero hour contracts maye - it was the change in legislation to self employed status that gordon brown brought in, in an attempt to make everyone paye & so increase both the tax & NI contributions and put more money into his dwindling coffers.so we had to hand in our 714s & 20%status-
This in turn gave rise to both agencies &,inturn umberella companies in an attempt to keep overheads & costs down & in a lot of cases keep trading, unfortunately this in my opinion has been the wrong way to go & limited a lot of smaller companies from growth & required larger companies to bring in zero hour contracts - not including offshore & indusrial work that often offered paye - site/streetwork in its very nature in supporting the building industry in general is & has allways been transient in its very nature & its just unfortunate that this has born the parasites & leeches out there that thrive through our blood & sweat
 
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