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...]
Mid priced - high service levels
RedUmbrella is a contracting arrangement for employees and is suitable for those working on temporary contracts who do not wish to move into self employment. We operate a PAYE scheme and you are taxed at source under PAYE regulations and receive all the benefits and advantages that go with an employment status.
Our systems ensure you take home the highest proportion of your gross pay by allowing legitimate work related expenses to be claimed. Through RedUmbrella's comprehensive dispensation arrangement (obtained from HMRC) expenses can be claimed for travel, accommodation, etc incurred wholly, exclusively and necessarily in the performance of your employment duties on a temporary work site.
Details of what constitutes a temporary place of work and what expenses can be claimed, as well as details of how to claim can be found here.
RedUmbrella will establish links with the agency or work provider and will exchange the relevant information. Payments will be made in an accurate and timely fashion making sure funds are in your bank when you need them.Other benefits of using RedUmbrella:
RedUmbrella offers all these benefits with a clear emphasis on service. We invest heavily with our independent consultants and the HMRC to ensure that you remain compliant with all existing and new regulations.
Red Umbrella company's website is straightforward, some would say quite basic. This isn't really an issue as you don't need to know what happens behind the scene - it's sufficient to know they are compliant with UK legislation.
If you choose to register on the phone, rather than online, you'll find Red Umbrella are welcoming and on-the-ball.
They explain the service in simple and understandable terms. Nothing seems too much trouble for their customers.
Quote Umbrella Compare code OVPOA when contacting Red Umbrella.
Note: introductory offers and promotions run by Red Umbrella are subject to change without prior notice. Umbrella Compare is not responsible for offers current, planned or discontinued by Red Umbrella. See our terms and conditions for more details.
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With 12 votes, Red Umbrella has an average review score of 1.9.
1.9 / 5.0 [12 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.