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Contracting in the UK Umbrella Company?

  • 07-05-2008 7:26pm
    #1
    jjbrien
    Registered Users, Registered Users 2 Posts: 2,678 ✭✭✭


    I have been offered a 10 week contact in the UK and have been asked by the agency to do an Umbrella Company does anyone have any experince of this. I looked and it seems nearly a third of your imcome goes to this company for paye and prsi. Is there a company offering an Irish soltion so can can pay Irish tax as im Irish tax resident? I seen a company in the Isle of Man which promise to give me 95% of my earnings but is this leagal? i dont want to do something dodgy.


Comments

  • #2
    carbsy
    Registered Users, Registered Users 2 Posts: 2,095 ✭✭✭carbsy


    When you set up an Umbrella company you are paying the PRSI for both the company and yourself iirc.I remember when I started out contracting, ended up being screwed on tax & prsi.You'll need to fight for every penny (or cent) by sending in receipts for expenses etc to lower the tax paid.


  • #3
    jjbrien
    Registered Users, Registered Users 2 Posts: 2,678 ✭✭✭jjbrien


    Any ideas of is there an Irish Company that does this? the only one that i can find is based on the isle of mann the company pays them in sterling and they pay me in euro.


  • #4
    GoneShootin
    Closed Accounts Posts: 8,478 ✭✭✭GoneShootin


    jjbrien wrote: »
    Any ideas of is there an Irish Company that does this?

    http://www.cxcglobal.ie

    Disclaimer: I work in the IT department for cxcglobal.ie


  • #5
    galway008
    Registered Users, Registered Users 2 Posts: 84 ✭✭galway008


    Try http://www.parasolgroup.co.uk/

    Very easy to deal with you do get charged employee and employer NI but you can claim for a whole load of expenses, e.g. daily subsistence (no receipts required). Send them an email and they will give you an idea. There are no setup fees just a weekly charge.

    There are others out there as well but they all seam to be much the same, bishop liberty is another name that comes to mind.

    Setting up a company gets you involved in the whole ir35 business unless you are moving about from site to site the UK revenue won't allow.

    I don't know anything about the Isle of Man companies.


  • #6
    jjbrien
    Registered Users, Registered Users 2 Posts: 2,678 ✭✭✭jjbrien


    galway008 wrote: »
    Try http://www.parasolgroup.co.uk/

    Very easy to deal with you do get charged employee and employer NI but you can claim for a whole load of expenses, e.g. daily subsistence (no receipts required). Send them an email and they will give you an idea. There are no setup fees just a weekly charge.

    There are others out there as well but they all seam to be much the same, bishop liberty is another name that comes to mind.

    Setting up a company gets you involved in the whole ir35 business unless you are moving about from site to site the UK revenue won't allow.

    I don't know anything about the Isle of Man companies.
    this seems the best option for me thanks they seem the best of all the companies i have seen.


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