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...]
"I want the cheapest."
"Who's offering the best service?"
"How do I compare services?"
These are just some of the thoughts anyone new to contracting would be considering. Where exactly can you find a reliable and trustworthy umbrella company service?
There was a time not so long ago, when finding a good umbrella company was a matter of luck.
The best you could hope for was a half decent site (no portals), and some one at the end of a phone who had some idea of what they were talking about. That's not really the best way to pick the very important company in your life who will be trusted with your money.
The best way to find an umbrella company is by word of mouth.
Sadly, that's not always an option if you're new to contracting. Contractor Supermarket has the next best thing - customer satisfaction survey results.
Today, you have a wealth of information about the top umbrella companies, and choosing an umbrella company is so important. You must get paid accurately and on time - every time.
A good umbrella company service has dedication, resolve and proven ability to get things right - especially the small things which make the difference between a satisfied customer and a frustrated one.
A good umbrella company service is tried and tested. You should consider these points when considering umbrella companies:
Have you decided that an umbrella company is the right payroll and tax solution for you? Click here, enter your details and get an instant comparison quote from the UK's best, vetted, compliant Umbrella Companies.
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It's the basics... Compliance with Tax, VAT, PAYE and fiscal arrangements is mandatory for contractors regardless of whether you use an umbrella company or your own limited company.
Incredible then that there are still rogue umbrella companies and limited company accountants who expose their contractors to fraud. Umbrella Compare provides THE solution, we thoroughly vet all umbrella companies and limited company accountants that we list [Read more...].
Umbrella Compare provides a holistic overview of contracting with the aim of helping new and old contractors find the right payroll solutions. Contracting should be about focusing on the contract, not payroll, accounting, HMRC and bureaucracy.