ESC

Click the "allow" button if you want to receive important news and updates from immigrationboards.com


Immigrationboards.com: Immigration, work visa and work permit discussion board

Welcome to immigrationboards.com!

Login Register Do not show

Net Pay and Invoice Value

Archived UK Tier 1 (General) points system forum. This route no longer exists.

Moderators: Casa, archigabe, CR001, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha, Administrator

Locked
reachomer
Newly Registered
Posts: 3
Joined: Fri Nov 09, 2007 9:07 am

Net Pay and Invoice Value

Post by reachomer » Fri Nov 09, 2007 9:14 am

Dear All,
I am working as a Contractor and I am getting my salary through Umbrella Company. Every month my salary is 2200. Out of that Umbrella Company takes 80 pounds as administration charge, then Employers NI like 150 and then the remaining amount is taxable.
2200(Pay)-80(Admin charge) = 2120.
2120-150(Employers NI) = 1970
Now this 1970 Is Taxable.
My question is when I will apply for HSMP will they count 1970 Taxable pay or 2200 Invoice Value.
As My pay Slip Shows 2200 as Invoice and the whole breakdown.
Regards.

SYH
BANNED
Posts: 2137
Joined: Sun Apr 29, 2007 7:06 pm
Location: somewhere else now

Post by SYH » Fri Nov 09, 2007 9:17 am

2120 is gross which is what they consider for hsmp purposes,
they (the man) already took the tax out and you got 1970 net.

reachomer
Newly Registered
Posts: 3
Joined: Fri Nov 09, 2007 9:07 am

Post by reachomer » Fri Nov 09, 2007 9:27 am

Dear,
I mean the 2120 the Umbrella company Charge Their own NI = 150 .
Now 1970 Left I pay NI and Tax and get 1550 something. I

SYH
BANNED
Posts: 2137
Joined: Sun Apr 29, 2007 7:06 pm
Location: somewhere else now

Post by SYH » Fri Nov 09, 2007 9:30 am

reachomer wrote:Dear,
I mean the 2120 the Umbrella company Charge Their own NI = 150 .
Now 1970 Left I pay NI and Tax and get 1550 something. I
that doesnt make sense. then what are you paying them for, it they are not figuring that out for you and deducting it.

reachomer
Newly Registered
Posts: 3
Joined: Fri Nov 09, 2007 9:07 am

Post by reachomer » Fri Nov 09, 2007 9:36 am

Dear Guru,
I mean my umbrella company takes 80 pounds as administration charge + 150 as their NI(Not Mine).
out of 1970 left I pay Tax+NI, so I am left with 1550.
My total Invoice Value is 2200.
Gross = 1970
Net in My acc = 1550.
My question is will they consider Invoice Value or my Gross.

SYH
BANNED
Posts: 2137
Joined: Sun Apr 29, 2007 7:06 pm
Location: somewhere else now

Post by SYH » Fri Nov 09, 2007 10:18 am

reachomer wrote:Dear Guru,
I mean my umbrella company takes 80 pounds as administration charge + 150 as their NI(Not Mine).
out of 1970 left I pay Tax+NI, so I am left with 1550.
My total Invoice Value is 2200.
Gross = 1970
Net in My acc = 1550.
My question is will they consider Invoice Value or my Gross.
Your Gross

Locked