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...]
More for you
Prospero Umbrella is a market leading umbrella payroll provider to contractors and workers nationwide. Prospero provide payroll services to a broad range of Workers, from HGV drivers to IT Contractors. Prospero offer an efficient and fully compliant process for our Contractors expense claims whilst offering peace of mind!
Contractor Supermarket review coming soon.
Quote Umbrella Compare code EGTCF when contacting Prospero.
Note: introductory offers and promotions run by Prospero are subject to change without prior notice. Umbrella Compare is not responsible for offers current, planned or discontinued by Prospero. See our terms and conditions for more details.
[2291 Page Views]
With 0 votes, Prospero has an average review score of 0.
0 / 5.0 [0 Votes]
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.