Holiday pay and umbrella companies – the facts

One of the drawbacks to being self-employed is that you don’t get sick pay or vacation pay. You have to save your money to get you when you will need a break or take time off work. If you are a contractor and use an umbrella company,this company will pay you vacation pay. They are obligated to do this since they act as your employer and so have to follow the requirements for matters employers have to provide for employees. Read on if you would like to discover how it works for contractors.

Using an umbrella company makes you a PAYE employee. All fulltime PAYE employees are entitled to 5.6 weeks paid vacation each year. To put it differently,you get 28 days of paid vacation,which is 5.6 times the standard 5-day working week. Bank holidays might or might not be included in these 28 days. {If you work fewer days or you don’t work for the entire year

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