IT contractors - umbrella co.
04 August 2003, 12:06 PM
#1
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Can someone explain to me in simple plain terms what is involved with umbrella companies.eg.monies,good & simple thing to use?
Is there a simple jargon free website that explains it all?
ta
Is there a simple jargon free website that explains it all?
ta
04 August 2003, 04:49 PM
#4
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They are effectively your employer. You send time sheets to them, they bill the company for your time, they deduct tax and NI, (and sometimes a percentage to cover sickness and holiday pay), and they pay you the rest.
You pay them a fee for the service, usually based on how often they pay you, (weekly, fortnightly, monthly).
They usually have some sorts of benefits available, such as pensions, medical cover, and/or liability insurance. The benefits available and whether/how much they charge for them varies between companies.
Try here and here. They might be a bit clearer than the other link. Then again, maybe not.
[Edited by TurboKitty - 04/08/2003 17:07:46]
You pay them a fee for the service, usually based on how often they pay you, (weekly, fortnightly, monthly).
They usually have some sorts of benefits available, such as pensions, medical cover, and/or liability insurance. The benefits available and whether/how much they charge for them varies between companies.
Try here and here. They might be a bit clearer than the other link. Then again, maybe not.
[Edited by TurboKitty - 04/08/2003 17:07:46]
04 August 2003, 04:52 PM
#5
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Here too
This one includes;
6. Why do I pay Employers National Insurance?
It is a legal requirement that these amounts are deducted. All contractors are liable for this whichever method of trading they choose.
If you have specific questions, feel free to give me a call and I'll try and help.
This one includes;
6. Why do I pay Employers National Insurance?
It is a legal requirement that these amounts are deducted. All contractors are liable for this whichever method of trading they choose.
If you have specific questions, feel free to give me a call and I'll try and help.
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