One of the drawbacks to being self-employed is that you don’t get sick pay or vacation pay. You have to save your own money to get you when you need a break,or take time. If you are a contractor and use an umbrella company,this company will cover you vacation pay. They’re obligated to do this because they act as your employer and so need to follow the requirements for things employers have to provide for employees. Read on if you would like to find out how it works for contractors.
Using an umbrella company makes you a PAYE employee. All full-time PAYE employees are eligible for 5.6 weeks paid vacation every year. To put it differently,you get 28 days of paid vacation,which is 5.6 times the typical 5-day working week. Bank holidays might or might not be included in these 28 days. {If you work or you don’t work for the entire year