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...]
Tops for customer service
Umbrella Companies come in all shapes and sizes...
...in fact some can be quite complicated. But our aim is to make life simpler for our contractors by helping to increase their earnings, while we take full responsibility for the administration and compliance of their pay. Whether you are a freelance professional or someone who is contracting for a short period we have the right PAYE Umbrella solution to meet your needs. Freeing you from the worry about legislation changes, tax and NI liabilities, we let you concentrate on your ‘day job'. Working through our Umbrella, Key Portfolio gives you the peace of mind that your payroll provider is always compliant with current legislation; will always speak to you using clear, jargon-free language and will continue to be innovative to make sure you always get great products and service.
MyKeyPay have a clear and modern website, and the sales rep will talk you through what their service offers in clear and simple terms. They've been in business for a few years now and are compliant with the latest legislation. They are clear with their expenses policy and will look after you as a valued client. They have competitive prices and you could do a lot worse than give them a call to see what they can do for you. They do not operate a portal system which means you'll need to fax or post your timesheets every week - but that's not a great hardship.
Quote Umbrella Compare code BSMHA when contacting My Key Pay.
Note: introductory offers and promotions run by My Key Pay are subject to change without prior notice. Umbrella Compare is not responsible for offers current, planned or discontinued by My Key Pay. See our terms and conditions for more details.
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With 28 votes, My Key Pay has an average review score of 3.3.
3.3 / 5.0 [28 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.