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What is PAYE?

Jessica Vella-Bone08/02/20191 min read
In the UK, Pay As You Earn Tax is the system that HMRC uses to collect Income Tax and National Insurance Contributions (NICs) from employees' pay as it is earned.

The amount due is calculated by your employer according to HMRC regulations then deducted from your earnings before being paid to HMRC each month.

If you chose to operate via a Limited Company, a good accountant, such as our sister company Dolan Accountancy will register you for PAYE with HMRC. They also would help you make  PAYE payments to HMRC each month, and tell you how much money to retain money in the company for corporation tax and VAT. It is a litte more complicated than going Umbrella.

Contractor Umbrella would take care of all of you PAYE and VAT payments to HMRC you won’t even have to complete a self-assessment tax form for the income that you earn whilst on assignment with us – so why not let us make your life that little bit easier?

If you have any questions about the figures produced by the Take Home Pay Calculator, then please contact our team on 01206 591 000 or email us at info@contractorumbrella.com.

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Contractor Umbrella is the hassle-free, straight talking umbrella company that provides umbrella employment for UK based contractors and freelancers. Independently voted as the best umbrella company by the readers of Contractor UK.

As one of the most trusted umbrella companies in the UK, we guarantee our employees peace of mind, absolute compliance and complete security. We are one of the longest standing and most respected umbrella companies in the UK.

If you’d like to find out more, call us on 01206 591 000 or request a call back by completing our online form.

Benefits of working through Contractor Umbrella;

  • Fast and easy registration –  be ready to work in 24 hours, simply register online and we’ll take care of the rest.
  • Calculate your take home pay – use our online calculator to find out how much you could be taking home through Contractor Umbrella.
  • Same day payments – We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.
  • Our Service Guarantee – is our guarantee that you will be looked after at every step of the way.
  • Flexible Limited Company accountancy – when you sign up to our sister company Dolan Accountancy, you can transfer to Contractor Umbrella when umbrella employment better suits or your assignment sits inside IR35.
  • Employee Benefits – at Contractor Umbrella there are many benefits available to you as our employee including Childcare Vouchers, our Employee Rewards Scheme, Group Pension Scheme, Foreign Currency Exchange, Contractor Accommodation, Contractor Mortgages and much more.
  • Expert Contractor Support Team – Every employee of Contractor Umbrella has access to our expert Contractor Support Team who are available to deal with any queries that you may have. You can get in touch with the Contractor Support Team, through the online chat, by email or by telephone.

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