Date: 15-08-18  Time: 08:59 AM

Author Topic: Umbrella scam  (Read 800 times)

esetest

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Umbrella scam
« on: 06 June 2014, 09:26:30 PM »
Any other Foccers been caught out by this , started agency work this week and found out it started April , any temporary worker who is not a limited company , is deemed to be Paye and are paid through an umbrella company and classed as an employee of that company , but you have to pay both Employees national insurance and employers national insurance which is about 18% , plus your tax the amount will depend on your tax code , and they stop about 12% of your money as holiday pay , which you can get back every 12 weeks . you can offset some of your tax by claiming mileage which is 45p per mile and claim subsistence if you are away from your home for so many hours a day but you have to keep receipts if you claim the subsistence in case you get investigated . There was a protest march in London about this , and there have been some mass walkouts from larger sites , although I have not read anything in the press about it . So much for the governments pledge to reward the workers , funnily enough it was the Tories who scrapped the SE60 just before they lost the 97 election .
Thankfully I don't do much agency work , but I feel sorry for any poor sods who do .

seangee

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Re: Umbrella scam
« Reply #1 on: 06 June 2014, 10:12:33 PM »
I went the limited company route because it just works out so much better - especially if you do flat rate VAT.


You should claim for lunch, cups of coffee etc when you are working away from "your normal place of work". I just ask for a receipt for everything then take a photo of it and throw it away and keep the pics in a folder on my computer. I name them so I can track them down e.g. "14-06-06 Lunch 12.75.jpg" - well it is Friday  :D


OTOH I have found that I am completely rubbish at remembering which days I used the car and which days I used the bike. Always seem to end up doing about 10k per year in the car and the rest on the bike  :\ :lol
Nothing is foolproof to a sufficiently talented fool.

esetest

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Re: Umbrella scam
« Reply #2 on: 06 June 2014, 10:56:40 PM »
I would use the car not the bike  :evil
And if four of us were from travelling  Bristol to Reading for example , we would all take  our own cars .
I mainly work as a sole trader and do have regular customers  , and mainly price my own work and use the agencies to fill in the gaps , 10 weeks last tax year , I am considering going down the ltd route and need to talk to my accountant about it  , but a couple of the lads who are ltd are concerned that they will close that loop hole  .

Frosties

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Re: Umbrella scam
« Reply #3 on: 06 June 2014, 11:12:22 PM »
I went the limited company route because it just works out so much better - especially if you do flat rate VAT.


You should claim for lunch, cups of coffee etc when you are working away from "your normal place of work". I just ask for a receipt for everything then take a photo of it and throw it away and keep the pics in a folder on my computer. I name them so I can track them down e.g. "14-06-06 Lunch 12.75.jpg" - well it is Friday  :D


OTOH I have found that I am completely rubbish at remembering which days I used the car and which days I used the bike. Always seem to end up doing about 10k per year in the car and the rest on the bike  :\ :lol


Near enough identical to me. My car mileage is always in the low 9k miles even though it's all by bike and yep.....if not in the office all grub receipts count - as does the new laptop, iPad, camera etc as 100% tax deductible business tools. Oh & all stationary, stamps etc.....
Those are my principles...if you don't like them I have others.