Employment Status

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...]

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Liquid Friday

A range of compliant payroll services to suit your circumstances.

Liquid Friday, To be confirmed WWW: http://www.liquidfriday.co.uk/for-contractors MAIL: info@liquidfriday.co.uk CALL: 0800 316 6030 - Quote Ref: SNMWX HOURS: Mon to Fri 8:30am - 5.30pm SCORE: 2.7 / 5.0 [220 Votes] FIND: To be confirmed

Introducing Liquid Friday

Should you choose to become an employee of Liquid Friday you will receive all the security and benefits of employment.

Liquid Friday PAYE is perfect if you currently receive assignments through agencies and you are working in any position in any industry where you incur legitimate business expenses such as mileage (any type of travel), accommodation, meals and/or any other expense related to the assignment.

You can claim back business related expenses whilst keeping the flexibility of contracting.

With Liquid PAYE you don`t have the complications of dealing with tax issues, HMRC or the burden of producing financial paperwork each year. You can increase your income; enjoy the benefits of being an employee.

How will PAYE work for me?

  • Register online or download the registration forms - we cannot process any payment to you until we have received all your forms.
  • We will view your eligibility to work in the UK against the guidelines given to us by the Home Office. Please see 'Eligibility to work in the UK'.
  • Send us a copy of your timesheet or log your hours online every week by Monday evening so that we can raise an invoice to the client. The earlier you log your hours, the quicker we can get your invoice raised, the sooner YOU get paid!
  • Send us your original expense form in the post with original receipts; we cannot accept copies of receipts. We need to receive this by the Tuesday in the week in which your pay is due. You can download an expense form here.
  • Once we have received confirmation from the client that the invoice is approved we will process your timesheet.
  • With your authorisation we will send out a sms/text on the Wednesday evening confirming your net pay to be paid into your nominated bank account on the Friday.
  • On receipt of funds from the Client, we will transfer your funds directly into your account.
  • Your remittance advice will be emailed to you clearly stating the hours and rate that you worked.
  • You will automatically be covered by Professional Indemnity Insurance as well as Combined Liability Insurance at no additional cost
  • By registering with Liquid Friday and becoming an employee you can be assured that you will receive all the support necessary to work as tax-efficiently, compliantly and safely as possible while getting on with what you do best.

Umbrella Compare Review of Liquid Friday

Straightforward service at a very reasonable price. You get everything you need, plus generous inclusive insurances (should be more than adequate for most contractors).

Nice enough on the phone, though most communications will probably be done online/email.

They're very happy to answer any questions you may have.

Umbrella Compare Promotional Code for Liquid Friday

Quote Umbrella Compare code SNMWX when contacting Liquid Friday.

Note: introductory offers and promotions run by Liquid Friday are subject to change without prior notice. Umbrella Compare is not responsible for offers current, planned or discontinued by Liquid Friday. See our terms and conditions for more details.

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Rating and Reviews of Liquid Friday

With 220 votes, Liquid Friday has an average review score of 2.7.

2.7 / 5.0 [220 Votes]

HMRC Compliance

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.