Presentation on theme: "How Does an Umbrella Company Work? By planIT Solutions Limited."— Presentation transcript:
How Does an Umbrella Company Work? By planIT Solutions Limited
You find a contract role with an agency or client. You register as an employee of planIT solutions, with a contract of employment. planIT sign a contract for services with the agency or client. Thank you. Welcome aboard.
As a planIT Solutions employee you can claim tax relief on your contract expenses.... such as travel, meals, and incidentals.
You submit your timesheets and expenses every week with planIT’s easy online system.
planIT checks your timesheet and expenses and raises an invoice for the value of time worked. The agency or client pays this invoice.
The day planIT receives payment we deduct our fee, pay your taxes due to HMRC and then pay you.
Personal Allowance & Expenses Because your contract related expenses are not subject to tax and NI, your take-home pay increases. PAYE Tax & NI Taxable Income
You will then receive an official payslip detailing what you have been paid.
Oops! planIT also provide you with essential employment insurances. So if something goes badly wrong... you’re covered.
Once a month, you pop your expense receipts in a prepaid envelope and return it to planIT. We hold the proper receipts. Everything is within the rules.
You’ve paid all you owe AND you’ve more money to take home.