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...]
A provider you can count on
My Max is the maximum service, minimum hassle umbrella
Reliable, efficient and competitively priced, My Max will take the hassle out of contracting, leaving you time to concentrate on your work and enjoy your leisure time.
The Perfect Solution
Choose My Max and we will take care of your PAYE and National Insurance requirements and ensure you receive the best possible net pay by giving you the opportunity to claim allowable business expenses. We will do this all within the remit of HMRC guidelines so you can rest assured that you are working with a compliant company. We know you need prompt and accurate payment, so we will even text you to let you know when we have processed your pay. Using My Max is plain and simple.
For a friendly, straightforward approach that delivers maximum returns for minimum effort, you can count on PayStream.
PayStream are a firm of accountants offering Umbrella services. They have strong relationships with many agencies and a 'one call resolution' scheme for all clients.
Sorry to say they aren't that quick to answer questions.
Quite pricey for an umbrella service, though in return you'd expect faultless service.
Quote Umbrella Compare code NONE when contacting PayStream.
Note: introductory offers and promotions run by PayStream are subject to change without prior notice. Umbrella Compare is not responsible for offers current, planned or discontinued by PayStream. See our terms and conditions for more details.
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With 70 votes, PayStream has an average review score of 2.6.
2.6 / 5.0 [70 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.