Umbrella Companies

DiscoDave1984

I have been working for an agency for two years and have now got my lorry licence and signed up with several new agencies, to get pain by one i have 4 options, Paye and 3 umbrella agencies.

One of the agencies claims i will earn more by signing up with them, Your PAYE rate is £8 an hour and umbrella is £10.
Penguin
PAYE : £8 an hour at 36 hours is a take home of £239.98 with accrued holiday pay of £31.02 which is a total of £271.00
Umbrella: £10 an hour at 36 hours is a take home of £284.80 with the employee benefits
lifeworks.com
The two other umbrella companies are .advance.online and We Contract
They all claim to have different benefits included life insurance, discounted benefits.
Do i choose to go Paye or with an Umbrella company.

Obviously they don't do this for free they take a fee.
Dave

Pennywise

DiscoDave1984 wrote: »

Obviously they don't do this for free they take a fee.
Dave

You will also end up paying the employers NIC with an umbrella, hence the higher hourly rate. Only way to decide is compare the figures and decide which benefits you actually want. No point having a lower tax home if you get a benefit you don't need.

Brynsam

Draw up a table with a column for each of the four options, then list exactly what you'd get, both financially and in terms of benefits - and don't overlook things you'd need to pay (employer NI with an umbrella company, tax on some or all of the perks).

Go with the one which offers you the best deal for your circumstances.