Contractors receiving their first umbrella company payslip can sometimes find it challenging to understand exactly how their pay has been calculated and what deductions have been made. However, the actual payslip is fairly straightforward to understand once you know what to look for.
Business Structures - Umbrella Companies
Virtually all IT contractors work via limited or umbrella companies. In this section, we explore how PAYE umbrella schemes work.
If you decide to contract via an umbrella company, you will be entitled to receive holiday pay (as an employee of the company). Here we look at what holiday pay is, and how it is calculated.
If you have decided to go down the umbrella company route, there are dozens of providers out there. Here we look at some important things to consider when you are choosing a prospective provider.