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...]
Great service - Worth a call
Universal Payroll Services
Universal Payroll Services was established to give temporary contractors the opportunity to enjoy their working life without having to deal with the hassle and legal implications of current legislation of operating in the market.
Established by contractors and ex-employees of other limited company providers who spotted the need for a payroll service provider who actually cared whether a contractor receives their money when they need it.
Universal has grown rapidly and is now viewed as an up and coming rival to the market leader; we are in a position to be taken seriously.
This remarkable success can be attributed to our deeper understanding of contractors' needs combined with flexible cost-effective and comprehensive service.
Universal Payroll Services manages its structures for contractors and takes on the burden of legal and accounting issues, taxation, insurance, invoicing, VAT - in fact every aspect of administration via our in-house teams of experts.
You'll realise that Universal Payroll Services unrivalled service is the driving force behind our rapid success in this industry.
We are delivering the expertise and peace of mind today's contractors are looking for.
This is an Employment based structure where all of your income goes through the PAYE system.
As an employee of one of our companies you will be paid net after all tax and national insurance have been deducted.
The service provides a risk free income and no worries about IR35.
You will have the ability of off-set all of your legitimate business expenses.
We also provide Public Liability Insurance, Employers Liability Insurance and Professional Indemnity Insurance at no extra cost.
Universal Payroll operate both an umbrella company and a CIS scheme for construction workers. This company understand the support a contractor needs and deliver at a low price.
The inclusive insurances which all are part of the standard fee should be adequate for most contracts.
You'll be assigned your own account manager and this should be all you need for a smooth running contract. Universal Payroll will welcome you regardless of the industry you work in and advise you accordingly.
Quote Umbrella Compare code MELQY when contacting Universal Umbrella.
Note: introductory offers and promotions run by Universal Umbrella are subject to change without prior notice. Umbrella Compare is not responsible for offers current, planned or discontinued by Universal Umbrella. See our terms and conditions for more details.
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With 2 votes, Universal Umbrella has an average review score of 3.
3 / 5.0 [2 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.