What is PAYE?

(1 minute to 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.

Still thinking about if you should join Dolan Accountancy?

Give us a call on 01206 591 000 or email jessica@jvbconsultancy.co.uk

BLACK FRIDAY DEAL

One week margin free when you sign up with Contractor Umbrella today!
Hurry - Deal ends at midnight tonight.
CLAIM NOW
      Terms and Conditions: 
1 week margin free or £25 reduction on monthly margin. Online registration form must be completed by midnight 6th December 2019. Payment must be processed and margin redeemed by 31st December 2019.
      
close-link

dav1