Contract work opt in/out of regulations - advice needed

[ScumOfTheRoad]

I need some input this morning please from contractors.  I am going for a contract under an umbrella company. I do not have my own Ltd company and this will be under what they term PAYE - ie I am employed by the umbrella company.
Any ideas if I should opt out of the regulations or not?

https://www.contractorcalculator.co.uk/conduct_of_employment_regulations_opt_in_opt_out.aspx

[Pingu]

https://yacf.co.uk/forum/index.php?topic=122900.0 any help?

[ScumOfTheRoad]

Yes very useful, thankyou
One thing I note - I did the umbrella company calculator.  I end up retaining 56% of gross, which is good.
The bad thing is that I pay employers NI - 1900 quid. I guess this is what all umbrella companies do - it just seems very odd to pay employer NI

[Pickled Onion]

It's a few years since I contracted, but normally the agency does not give you an option - they require an opt-out as condition of awarding the contract. If they're offering you the choice and you're going through a brolly, then opt in.

For the NI_Er: strictly speaking, *you* don't pay it, your employer does. Which in your case is the brolly. In the case of a Ltd Company contractor, your own company pays the NI_Er. *Someone* has to pay it, and from your point of view it's coming out of the headline (gross) contract rate.

[citoyen]

Yes, as PO says, the headline figure is what the client pays to the umbrella to cover all your costs as an employee, including employer's contributions to things like NI and pensions, and their cut (to cover their own costs and profit etc).

That also means holiday pay - your umbrella will probably give you the option to set some aside from your weekly pay which you can take later as holiday. I've chosen to take it all up front - I'd rather set some aside in my own account so it's earning interest for me rather than the umbrella.

As per the other thread, I was a bit dubious about it at first but it has proved to be a very good arrangement for me.

If you need a recommendation, I've been very happy with Paystream so far.

[ScumOfTheRoad]

Thankyou all