1. When will I get paid?
When funds are received from the agency we will make a BACS transfer into your private bank account same day. Top of page
2. How will I receive details of the payment?
Details of the payment will be emailed to you on the day of the payment. Top of page
3. Why do I have to pay both employers NI and employees NI?
As a compliant umbrella company, we make payments to the Inland Revenue for both employers and employees national insurance to comply with the regulations as applied by the Inland Revenue. Top of page
4. What happens to the genuine business expenses incurred in my contract?
The expenses are deducted from your contract income and paid gross back to you. They are paid back to you with no tax and national insurance deductions. Top of page
5. How long will it take to join Paramount Solutions Limited?
Once contact has been made, you can become an employee of Paramount Solutions Limited straight away.
We will send you forms to complete and return to us. Top of page
6. Am I covered for Insurance?
You will be covered for Professional Indemnity Insurance £1,000,000, Employers Liability Insurance £10,000,000 and Public Liability Insurance £1,000.000.
There is no extra charge for this. Top of page
7. How does IR35 affect me?
You are an employee of Paramount Solutions Limited. IR35 will not apply to you. Your contract income after deducting genuine business expenses will be subject to tax and national insurance. Top of page
8. Will I be able to receive dividends?
No. We only operate a fully compliant PAYE umbrella company. Top of page
9. Will I have any further Tax liabilities?
PAYE and NI are deducted and paid to the Inland Revenue by us. You do not need to do a thing. However if you have any other income from other sources you may need to complete a self-assessment. Top of page
10. What will be my take home pay from the contract?
Complete here and we will provide you with a personal illustration of your weekly/monthly take home pay. Online Net Benefit Calculator. Top of page
When funds are received from the agency we will make a BACS transfer into your private bank account same day. Top of page
2. How will I receive details of the payment?
Details of the payment will be emailed to you on the day of the payment. Top of page
3. Why do I have to pay both employers NI and employees NI?
As a compliant umbrella company, we make payments to the Inland Revenue for both employers and employees national insurance to comply with the regulations as applied by the Inland Revenue. Top of page
4. What happens to the genuine business expenses incurred in my contract?
The expenses are deducted from your contract income and paid gross back to you. They are paid back to you with no tax and national insurance deductions. Top of page
5. How long will it take to join Paramount Solutions Limited?
Once contact has been made, you can become an employee of Paramount Solutions Limited straight away.
We will send you forms to complete and return to us. Top of page
6. Am I covered for Insurance?
You will be covered for Professional Indemnity Insurance £1,000,000, Employers Liability Insurance £10,000,000 and Public Liability Insurance £1,000.000.
There is no extra charge for this. Top of page
7. How does IR35 affect me?
You are an employee of Paramount Solutions Limited. IR35 will not apply to you. Your contract income after deducting genuine business expenses will be subject to tax and national insurance. Top of page
8. Will I be able to receive dividends?
No. We only operate a fully compliant PAYE umbrella company. Top of page
9. Will I have any further Tax liabilities?
PAYE and NI are deducted and paid to the Inland Revenue by us. You do not need to do a thing. However if you have any other income from other sources you may need to complete a self-assessment. Top of page
10. What will be my take home pay from the contract?
Complete here and we will provide you with a personal illustration of your weekly/monthly take home pay. Online Net Benefit Calculator. Top of page
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01422 241122
01422 241122
Frequently Asked Questions
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