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.
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.
The 2023/24 tax year ends on the 5th of April 2024 and now is the perfect time to make sure you are making the most of your pension. We’ve compiled a list of top tips to help you boost your pension savings before the end of the 2023/24 tax year.
The government has recently published its much-anticipated response to the key employment law consultations conducted earlier this year. As part of the announcements, the government will reform holiday pay for irregular and part-year workers and introduce rolled-up holiday pay.
When you use an umbrella company, you’ll receive a payslip every time you are paid, outlining the deductions made to your assignment rate, including tax and National Insurance Contributions. This article provides a detailed overview of all the deductions you may see on your payslip, including what they are, why they occur and how much they are likely to be.
The umbrella company marketplace is saturated. Hundreds of payroll providers in the UK boast that they provide the best quality service for contractors and freelancers. However, with so many to choose from, how do you genuinely know which umbrella company is the best and which providers should be avoided at all costs? In this article, we provide some helpful tips to help you pick a dependable and ethical umbrella company for your payroll – to ensure you’re paid compliantly with HMRC’s rules and regulations.
Getting to grips with the financial ins and outs of working with umbrella companies can be challenging. This guide aims to make it easier for you, providing a clear but detailed rundown of the essential factors at play. We’ll guide you through how the rules for deductible expenses have evolved, starting with crucial shifts caused by tax laws introduced in April 2016.
There are hundreds of umbrella companies in the UK. While choosing one sounds daunting, due to the competition, there are plenty of reliable and compliant providers out there. If you are currently using an umbrella for your payroll and are not satisfied with the level of service you’re receiving, you should consider switching to a new provider immediately. While changing umbrella companies is a little time-consuming, you’ll immediately reap the rewards, and the processes involved are straightforward. This article explains how to switch umbrella companies and when you should consider waving goodbye to your existing, sub-standard umbrella and joining a new one.
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.
