The Umbrella Company solution is a popular choice among first time contractors, but there are some important factors to be aware of.
Since the Managed Service Company Legislation was introduced in the 2007 budget, there is only one legal choice for an Umbrella Company which is the PAYE model. This Umbrella model treats all your taxable income as salary, meaning that you pay employer's National Insurance contributions, employee's National Insurance Contributions and Pay As You Earn tax on all your income. Employing the services of an Umbrella Company means you avoid much of the administration involved in using a Limited Company. Instead, you effectively use another Company's payroll and are employed by that Company. After selecting your Umbrella Company, you merely forward your timesheets to them and they then invoice the agent. Once money is received by the Umbrella Company, they will complete your payroll usually on the same day, and pay your net income to you.
We offer the option of using the Umbrella model and also provide professional advice and take home calculations on other options including Limited Company & Sole Trader, so you can choose the solution that gives you the highest return.
- Increased take home pay from your earnings
- Minimum form filling - expenses and tax forms done for you
- No tax worries - we take account of all the latest HMRC directives
- Confirmation email and text advising you of exactly how much pay you take home, in each pay period
- Free and fast set up and least effort - everything ready for you in a few hours.
Saving Time and Money!
Whatever industry you work in, and no matter how much you earn, we're sure we can help you save time and money. The advice provided on all solutions takes into account all of the latest tax rulings and legislation so you can feel assured of a compliant outcome regardless of the option you choose.
Our team has been providing expert advice to a wide range of contractors since 1998 and our commitment to ensuring you get the most from your contracts remains.
Our Contractor Accounting Solutions
- No up front set-up costs
- Free expenses handling and free specialist advice from real people in the UK
- Fast set up, and fast same day payments to you
- No minimum contract period - the freedom to stay for as little or long as you wish
- Minimum hassle - submit your expenses and timesheet, and we do the rest.
Request a FREE personalised take home pay calculation and find out how much money we can save you.
Phone a consultant now on 01707 871622
Opening hours are:
8:30 - 19:00 Monday - Thursday
8:30 - 17:30 Friday
Our office is closed over the weekend.
Should you phone in out of office hours, please request a call back and one of our staff will respond to your query.