Is working through an umbrella right for you?
There are many reasons why contractors and freelancers use umbrella companies for their payroll. Using an umbrella company is the easiest way to get paid as a contractor working inside IR35, and the amount of administration you are required to complete is significantly less than if you were the director of your own limited company. Umbrella companies can be used for any length of contract and industry, and there are no joining or leaving fees when you use Churchill Knight Umbrella.
Who can use an umbrella company for their payroll?
Ultimately, your IR35 status determines whether you can operate via your own limited company or may be better suited to using an umbrella company. For many contractors operating inside IR35, umbrella companies are a great way to get paid compliantly.
Churchill Knight Umbrella offers a reliable and trustworthy PAYE service to contractors and freelancers at any stage of their career and is often used by:
- Contractors deemed inside IR35 in the public or private sectors
- First-time contractors looking to get a feel for self-employment and try out contract work
- Contractors who do not want to run their own limited company or want to try contract work before starting their own limited company
- Contractors who are working on short-term assignments or multiple assignments alongside each other
If you are unsure whether an umbrella company is the right option for you, please give our Sales Consultants a call for a free consultation.
Limited company accountancy
For many contractors, contracting via a limited company is one of the most tax-efficient ways to operate if you are outside IR35. Whether you want to set up a limited company or are already a director of your own limited company, a specialist contractor accountant can offer a comprehensive accountancy service for your business requirements.
If you are looking for a contractor accountant or are interested in learning more about setting up a limited company, please contact our sister company, Churchill Knight & Associates Ltd.
A summary of the key benefits of using an umbrella company
There are many benefits of using an umbrella company for your payroll:
- Compliance with UK tax law and HMRC legislation – Providing you use a compliant umbrella company, the correct tax deductions will be made to your pay and paid to HMRC on your behalf.
- Inside IR35 status determination – If you are deemed inside IR35, you do not need to worry about IR35 as you’ll be taxed at source, like a permanent employee (PAYE).
- Low cost – Umbrella companies will deduct a margin for their service, which is taken from your gross pay (before tax) and costs you a little less. A weekly margin is usually between £15 – £30 – considerably less than a contractor accountant!
- Continuity of employment – Your umbrella company will remain your sole employer, allowing you to work for multiple clients. Continuity of employment also helps when you apply for financial services such as a loan or mortgage.
- Employee benefits – You’ll have access to employee benefits, including Sick Pay, Maternity Pay and Paternity Pay, just like a permanent employee.
- Insurance – Most compliant umbrella companies will provide you with free insurance cover (Public Liability, Professional Indemnity and Employers Liability Insurance) as part of the service.
- Minimal administration – Unlike running a limited company, umbrella companies are a straightforward way to get paid, and once you have registered, there is very little ongoing administration (if any).
Contact Churchill Knight today!
Are you interested in moving away from your current provider and joining Churchill Knight Umbrella? Churchill Knight Umbrella is an FCSA-accredited and SafeRec-certified umbrella company providing contractors and freelancers with a compliant payroll service. Since we launched in 2016, we have quickly become one of the most popular umbrella companies in the UK, and we help thousands of contractors get paid each month.
If you are interested in finding out more about Churchill Knight Umbrella or would like to switch to our umbrella service, please call us on 01707 871622. You can also request a callback at a time that suits you, and a team member will contact you.
Why use Churchill Knight Umbrella?
Setting the standards
We're one of the most recognised umbrellas in the UK.
Excellent processes
We've streamlined the sign up process. Support is always available.
Accurate pay calculations
Our calculations are based entirely on your circumstances.
A big network
We have excellent relationships with the biggest agencies.
Brilliant reviews
We have great reviews on both Google and Trustpilot.
Accredited by the FCSA
Churchill Knight Umbrella is a member of the FCSA.
Accredited by SafeRec
We are one of the first SafeRec certified umbrellas.
No hidden costs
You can use our service with complete peace of mind.
Employee benefits
Including Sick Pay and Maternity/Paternity Pay.
Continuity of employment
This makes it easier for you to get external finance.
Insurance
£25 million insurance cover is include in our service.
Same Day Faster Payments
You will receive your funds the same day we pay you.
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