Self-billing is a common practice for recruitment agencies who deal with contractors and freelancers. If you are on a self-billing arrangement for your contract, here is what you should know.
Umbrella companies are one of the most popular payroll services for freelancers and contractors in the United Kingdom. However, with so many unethical organisations encouraging tax avoidance and promoting 90 percent pay retention, how much should you realistically take home after the appropriate deductions have been made to your pay?
Most commonly, freelancers and contractors either set up a limited company and become the sole Director, or use an umbrella company for their payroll. After some recent changes in legislation, umbrella companies have become more popular. However, do you understand how your candidates’ pay is calculated?