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What is PAYE?

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, you will be taking on the responsibility of registering for PAYE with HMRC, unless you are outside IR35 which is becoming increasingly difficult. Not only will you have to make PAYE payments to HMRC each month, you will also have to retain money in the company for corporation tax and, maybe, VAT. Late filing of any of these tax payments will give rise to fines and also interest payments on the debt.

ContractorUmbrella can relieve you of all of this stress and hassle as we take care of all 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 713680 or email us at info@contractorumbrella.com.

NB. When comparing calculators on umbrella service websites you must ensure that you are comparing like with like and a detailed breakdown should be available on request. The only variable factor in your net pay is the Umbrella Company margin, all other figures are determined by HMRC regulations. Beware of hidden 'employment costs' for the AWR being passed on to you.

Our free guides are an invaluable source of information for contractors and have been downloaded by over 10,000 people. Visit our Download page today!

Why Choose ContractorUmbrella?

ContractorUmbrella 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.

Benefits of working through ContractorUmbrella;

  • 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 ContractorUmbrella.
  • Same day payments- we offer same day payments as standard, for no additional fee.
  • Our Commitment Charter- 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 ContractorUmbrella when umbrella employment better suits or your assignment sits inside IR35.
  • Employee Benefits- at ContractorUmbrella 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.
  • Personal Employee Liaison Officer- we believe in the personal touch, so you will have your very own dedicated Employee Liaison Officer during your employment with us. Read some of the glowing testimonials we've received about our lovely staff and the outstanding commitment they give to all our employees and clients.

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