Some contractors that are employed through agencies and umbrella companies are signing up to arrangements that claim to maximise their take-home pay and retain up to 90% of their income after tax and NI. But these are clearly tax avoidance schemes.
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Why would you need to switch from running your own limited company to using an umbrella company? We discuss the possible reasons behind this and what you need to do to switch from limited company to umbrella.
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There is no better time to look for a new contracting role than now. We have 3 tips that will help you find a new contracting role to suit you. Download our free guide to finding new contract roles.
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HMRC is on the path to take down the practice of tax avoidance and tax evasion by introducing measures preventing taxpayers from taking advantage of the system.
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Since 6th April 2016, Supervision Direction and Control (SDC) has restricted the expense claims – such as travel and subsistence – that contractors working through an umbrella company are allowed to claim.
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