Are you a contractor? If you work for someone else, it is important to know whether you are working for that person in an employed capacity or in a self-employed capacity as an independent contractor.
Your employment status will determine the charge to tax on income from your employment or self-employment. It will also determine the class of NICs, which are to be paid.
Umbrella Companies employ you for tax purposes and complete central returns for all their contractors. It's less hassle and more flexible for you but take home pay is typically less than that the limited company option.
The best option for you depends on your plans, 'one off' contract or 'contractor for life'? [Read More...]
As a contractor/freelancer the most important decision you make is how you manage your payroll and accounting. It's a simple choice, you either need to setup your own limited company or work through an umbrella company.
Making the decision of umbrella or limited company can seem complex. The good news, you are not on your own. Every year thousands of contractors and freelancers use Umbrella Compare to help understand which accounting and payroll option is right for their contract and circumstances.
We are happy to help you choose which option is best, simply call us or use the form below and we can email or call you back.
You can calculate your potential take home pay using online IR35 calculators but they can be confusing as you may not be sure whether you:
Umbrella Compare keep it simple. We won't ask you to fill out forms which you may be confused by. We won't force you into an umbrella or limited solution. We simply provide the right information and support so that you can decide whether to use the services of an umbrella company or a limited company.
What do you need to do? You can call 0203 137 9246 now or complete the form below and we will contact you at a convenient time for you.
As a new contractor this is your biggest question. The services of an umbrella company are the easiest to setup and manage, plus cheaper than running your own limited company for most contractors. Umbrella Compare is about finding the best Accounting and Payroll Solution for you and your contract. Once you have decided, it's simple. Pop your details in our Umbrella Company comparison calculator or limited company comparison calculator and we remove the hassle of trawling the internet.
Unsure? Call Tempo [020 31 37 64 62] and get an appraisel on both options with costs and benefits. Quote Umbrella Compare for the latest deals and discounts.