Does anyone know how one treats earnings and expenses paid through an umbrella company? The expenses are offset against income to reduce tax and ni. Do we just take the gross less the reduced tax/ni (which doesn’t match the net income) or should the expenses be looked into further and possibly added onto the gross pay if appropriate?
Gross £319.80
Tax £1.65
NI £2.49
THIS PERIOD
Total gross pay £319.80
Taxable £132.68
Non-taxable £187.12
Expenses £135.00
Net Pay £263.54
Thanks….
