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...]
They'll look after you well and offer good value.
"ESENTUAL is a new breed of Employment Management company. We have identified the key areas that are a concern for agencies, clients and contractors with the current providers.
These concerns include payroll efficiency, timesheet submission, information transparency, payroll timescales, and employment legality issues to name a few. ESENTUAL has combated many of these issues by teaming up with the top industry accountants, business process payroll and a law firm to develop an award winning service at no extra cost."
Esentual's website is clear, though not overflowing with information - but there's enough for the first timer to get a good idea of their services. This company tick all the right boxes when it comes to looking after their customers. Their net pay figure is perfectly acceptable and their fees are about mid-range for the industry. They excel in terms of ethical standards; they will explain their services in clear simple terms and have a good grasp of current complex legislation that affects you as a contractor. Their website is readable and makes sense to a newcomer. As a customer, you can access your personal records from their web-portal, at your convenience, as well as using it to submit your time-sheet details each month.
Quote Umbrella Compare code MVTIG when contacting Esentual.
Note: introductory offers and promotions run by Esentual are subject to change without prior notice. Umbrella Compare is not responsible for offers current, planned or discontinued by Esentual. See our terms and conditions for more details.
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With 14 votes, Esentual has an average review score of 3.3.
3.3 / 5.0 [14 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.