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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Welcome to Paramount Business Services Limited, the contractor accounting practice that offers a comprehensive service to any contractor in any industry anywhere in the UK.
Whether you are an experienced contractor or new to the world of contracting, we have a comprehensive, unrivalled level of service to meet your every need.
We want to have a positive influence on our client's careers through our service, an experience that we trust will leave you refreshed and comforted that your financial affairs are being looked after on a very personal level with only your best interests at heart.
Our clients deem our service not only the most professional in our industry, but also the most friendly, an aspect that is often overlooked.
We are in the business of putting a human face to the accounting service we offer. Everything we are trying to achieve at Paramount revolves around offering specialist, easy to understand accounting and taxation solutions to small and medium sized businesses.
This service will come to you through the 20 years worth of experience in the contracting industry gained by our directors.
In addition to a general accounting service and the provision of Limited Company solutions to contractors, we also offer the opportunity to work through our Umbrella Company, Paramount Solutions Limited.
Please use the relevant links to direct you to that part of our website that has the answers to your questions, depending on whether you are wanting to know about opening your own Limited Company or about taking advantage of our fully expensed Umbrella Company.
If you are not sure and you would like to speak with one of our team, please contact us and we would be delighted to answer any questions you may have.
Paramount Solutions have been around for long enough, and their net pay return is within an acceptable margin. Their fees are comparatively low and they are compliant with all UK laws. They will explain their services in clear simple terms and have a good grasp of current complex legislation that affects you as a contractor. 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 DONVR when contacting Paramount Solutions.
Note: introductory offers and promotions run by Paramount Solutions are subject to change without prior notice. Umbrella Compare is not responsible for offers current, planned or discontinued by Paramount Solutions. See our terms and conditions for more details.
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With 1 votes, Paramount Solutions has an average review score of 5.
5 / 5.0 [1 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.