Umbrella company

What is it?

An umbrella company acts as an employer to contractors.

1. It gives you all the benefits of contracting without the risk of administration involved in using your own limited company.
2. It offers a full administrative service, including making the relevant tax deductions from your salary.
3. It maximises take-home paythrough tax-efficient structuring.

Limited company

What is it?

A limited company is a business structure that offers its members, shareholders and directors several benefits.

1. Compared to sole traders or partnerships, it’s more tax-efficient. Dividends don’t get taxed as heavily as salaried income.
2. Personal liability is limitedfor all members. Personal finance is kept separate from the company’s finance, so you’re protected if anything goes wrong with the company.
3. It portrays a professional image. Because it’s required in many industries, it can provide a reassuring, established image to clients and customers.

Who it’s for

An umbrella solution is best-suited for contractors, freelancers or temporary workers who:

• Don’t want to set up as a sole trader
• Don’t have their own limited company
• Are going through an agency but need PAYE

Who it’s for

• Individuals contracting in the UK
• Expats currently living in the UK
• Anyone who is self-employed and contracting in the UK

What we do

We pay contractors on a weekly, fortnightly or monthly basis – depending on your requirements.

We take care of the following:

• Invoicing your agency
• Calculating your PAYE and NI, and paying these over to HMRC
• Ensuring timely payments to you
• Issuing of year-end documentation like P60s, where required
• Dealing with any employment-related queries that HMRC might have

What we do

We help with the setting up of limited companies. As part of this, we offer:

• Accounting services
• Company tax planning
• Financial advice
• Personal tax
• Investment planning
• Mortgages

Why choose this contracting option?

An umbrella solution is a minimum-hassle one, with very little admin, and maximised take-home pay. Your tax and NI gets deducted before you receive your money, and then gets paid over correctly to HMRC on your behalf.

Why choose this contracting option?

A limited company is a clever way of starting up as a contractor or in business with minimal risk. It gives you the advantages of ownership, along with certain tax benefits and increased take-home pay.