Why Use An Umbrella Company Calculator?
Hi, my names Alex from Danbro , I am currently working as part of the marketing team here during my one year placement from university. In this article I will be discussing the importance of umbrella company calculators and why they are such a useful tool for contract workers.
The main question we get asked by our contractors is; "How much money will I take home if I use your umbrella service?"
As a contractor operating through an umbrella company, your take home pay can be significantly enhanced when in compared with a normal PAYE scheme. Furthermore, an Umbrella Company Calculator is designed to provide an illustration of your take home salary based on your working week, taking into account any subsistence, accommodation, and other expenses incurred during your working week.
However, contractors must be aware that these online company calculators are not 100% accurate. Many umbrella companies may set up their calculators based on much higher expenses than would averagely be incurred in order to provide a more profitable outlook on their contracting services. The only variable should be the fee charged by the Umbrella Company for delivery of their service.
Another disadvantage of online umbrella calculators is most won"t take into account effects legislations such as the infamous IR35. Failure to comply with legislations such as IR35 can result in hefty fines from HMRC. As with anything I would advise to seek for professional advice from a new business consultant at your chosen umbrella company to provide a more accurate breakdown of your take home pay calculation. Consultants have the technical expertise and knowledge to deliver a more precise idea of what your most tax efficient way to receive your earnings.
With Danbro, we provide multiple solutions for contractors, which ensures you will receive unbiased advice, allowing you to choose the solution which is right for you.
For more information on this article and to take advantage of Danbro"s FREE umbrella company calculator service contact;
Danbro: 01253 600141,
General Enquiries: 01253 600140,
London Office: 020 7836 8400 or
Email: [email protected]
The main question we get asked by our contractors is; "How much money will I take home if I use your umbrella service?"
As a contractor operating through an umbrella company, your take home pay can be significantly enhanced when in compared with a normal PAYE scheme. Furthermore, an Umbrella Company Calculator is designed to provide an illustration of your take home salary based on your working week, taking into account any subsistence, accommodation, and other expenses incurred during your working week.
However, contractors must be aware that these online company calculators are not 100% accurate. Many umbrella companies may set up their calculators based on much higher expenses than would averagely be incurred in order to provide a more profitable outlook on their contracting services. The only variable should be the fee charged by the Umbrella Company for delivery of their service.
Another disadvantage of online umbrella calculators is most won"t take into account effects legislations such as the infamous IR35. Failure to comply with legislations such as IR35 can result in hefty fines from HMRC. As with anything I would advise to seek for professional advice from a new business consultant at your chosen umbrella company to provide a more accurate breakdown of your take home pay calculation. Consultants have the technical expertise and knowledge to deliver a more precise idea of what your most tax efficient way to receive your earnings.
With Danbro, we provide multiple solutions for contractors, which ensures you will receive unbiased advice, allowing you to choose the solution which is right for you.
For more information on this article and to take advantage of Danbro"s FREE umbrella company calculator service contact;
Danbro: 01253 600141,
General Enquiries: 01253 600140,
London Office: 020 7836 8400 or
Email: [email protected]
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