With each new tax year, there are often changes to tax rates that could affect your take home pay. Continue reading as we outline the tax changes introduced for the 2022-23 tax year and how this will affect your take home pay when working through an umbrella company.
One of contractors’ most commonly asked questions when they receive their first payslip is “why am I paying the Apprenticeship Levy?”. Continue reading as we discuss what the Apprenticeship Levy is, who is pays the Levy and why it is displayed on your payslip.
As a result of workplace pension auto-enrolment, more and more contractors are saving towards a pension. One of the benefits of saving into a workplace pension is tax relief. The way it is given differs depending on the pension scheme you are enrolled into. Continue reading to discover how tax relief on your pension contributions works.
Your tax code is used to determine how much tax-free income you will be allocated per year and how much tax is due on your earnings or pension once you have exceeded the threshold. Continue reading to discover what your tax code means, how to check it and what to do if you think your tax code is wrong.
In April 20217, HMRC introduced the trading allowance (sometimes referred to as the hobby allowance) for people earning small sums of money through self-employment, casual or miscellaneous income. Continue reading to discover if you could benefit from the trading allowance.
The Agency Workers Regulations (AWR) came into force on the 1st of October 2011 and profoundly impacted the contracting sector and temporary workers. Continue reading to discover what the AWR’s mean for you.
When you register with an umbrella company, you become an employee of that company and are entitled to the same rights as any other UK-based employee. Continue reading as we discuss the Working Time Regulations and whether you should opt-in or out of the 48-hour working week.
Once your income exceeds £100,000, the tax-free personal allowance is gradually reduced until it is eliminated in full. Continue reading to learn more about the Abatement of the Personal Allowance and how to preserve your entitlement to the allowance.
Recently, we have received a couple of queries from contractors who have never completed a starter checklist for PAYE before and are unsure which statement applies to them. Continue reading as we outline what each statement means and in which scenario it would apply to you.
Salary sacrifice is a great way to boost your personal pension pot by increasing the amount you contribute each time you are paid. If you’re a contractor, freelancer or agency worker and you require the services of an umbrella company, some can accommodate salary sacrifice – if it’s something you’re interested in. Continue reading to find out more about salary sacrifice.