When you register with an umbrella company, you are entitled to holiday pay, but it is often an area that causes a lot of confusion. Continue reading as we explain how holiday pay works through an umbrella company, including how it is calculated and paid to umbrella company employees.
“We’ve made it our role to provide curious contractors, freelancers and temporary workers with an accurate indication of their earning potential through a compliant umbrella company. It’s no secret that some umbrella companies have been handing out inflated illustrations to trick people into registering with them. This really annoys us because it’s both deliberate and unethical.
Umbrella Company Calculator is an umbrella company projection tool that’s designed to be transparent and accurate. It’s entirely free to use, and there are no limits to how often you can use it. Not only does our umbrella calculator take over a dozen factors into account when producing figures, but it’s also got nothing to hide because we’ve written a thorough summary of how it works and what’s taken into account to produce the numbers it does.
Please, have a go on the calculator and see what you think! And, if you’re keen to go ahead and use an umbrella company for your payroll, make sure you choose a compliant company that abides by HMRC’s rules and regulations. Never be tempted to use a tax avoidance scheme! Finally, by all means, ask umbrella companies for calculations. However, if they provide you with a take-home figure that’s significantly higher than our purpose-built calculator – you should naturally have some concerns. Challenge them and find out what’s going on. Our calculator is realistic; are they manipulating their figures to trick you into registering with them, only for you to be disappointed on payday?”