Massively wrong p60

Uberbeck

oldbikebloke said:

Uberbeck said:

The PAYE and NI taken are only a small portion of pay deducted. They seem to process all my hours on minimum wage then take tax and NI from that (which is virtually nothing) and then take a further payment for ‘company tax’ and ‘company NI’ (which is considerably more) which means I lose a third of overall pay. 

The P60 only adds up for the non company bit.

as I suspected, you don't really understand what an umbrella company does.
The umbrella is your employer and has to pay employer "tax", typically that means it pays it out of the money "you" earn, since the only source of income for the company is your "earnings" . 

There is no such thing as "company tax" - there will be an admin charge

There most certainly is such a thing as company NI, and, as above, "you" are the one who pays it, not the people who run the umbrella company for you. However, as that is an employer, not employee cost, it never shows on your P60 

This isn’t the first umbrella I used. I used a few. I have a good understanding of what they do. 
The company tax is what stated on my payslips. 
The total earning that is declared on the p60 is even less than my take home pay! and the tax deducted shown is less than 5% of what they actually deducted.

Uberbeck

Will use the actual payslips for my return and inform the correct body for investigation. 
Thanks everyone for your advice

Speedbird676

oldbikebloke said:

There is no such thing as "company tax" - there will be an admin charge

Some umbrellas show the Apprenticeship Levy as Company Tax or Employment Tax.

This should only be a very small deduction though.