Most contractors and freelancers employed by an umbrella company do not need to submit a tax return if they are below the £150,000 threshold and the only income they receive is paid via the umbrella company as it is taxed at source (PAYE). Our latest article explains more about umbrella companies and tax returns – to help you identify whether or not you need to submit one.
Salary sacrifice is a tax-efficient way for contractors and freelancers to pay into their personal pension pot and save for retirement. Continue reading to discover the different ways you could benefit from salary sacrifice.
If you are new to contracting or have only ever contracted via a limited company, you may wonder: “What is an umbrella company?”. An umbrella company is a business often used by recruitment agencies or end clients to pay temporary workers. Our latest article outlines what an umbrella company is, who can use an umbrella company and the benefits of using an umbrella company for your temporary assignments.
HMRC regularly updates its list of named tax avoidance schemes, promoters, enablers and suppliers. In September, the amount of named tax avoidance schemes reached over 100. Keep reading for more information about the dangers of using a tax avoidance scheme.
As a contractor, one of the most important pieces of legislation that will affect you is IR35. Our latest article provides everything you need to know about umbrella companies and IR35.
Umbrella Company UK is pleased to announce that our FCSA membership has been renewed for another year as we successfully passed the annual audit.
The self-assessment threshold has changed for people taxed through PAYE. Previously, the threshold was £100,000. However, the threshold has now increased to £150,000, and you must complete a self-assessment if you earn £150,000 or more taxed through PAYE.
As a contractor, saving for retirement and making the most of your pension is incredibly important. Our latest article explains the difference between contributing to a pension via salary sacrifice and a workplace pension scheme.
Jeremy Hunt has unveiled this year’s Spring Budget 2024 in the House of Commons today (6th March 2024). Our latest article explores the Chancellors key announcements.
Navigating and understanding the compliance of umbrella companies can be daunting for contractors, but it’s essential to avoid falling into the trap of operating through a non-compliant provider. Our latest article provides valuable information about how to determine if your umbrella company is compliant.
