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.
Before you register with an umbrella company, it’s a great idea to request a tailored take home pay illustration to get an idea about what your net take home pay will be after deductions. Continue reading to discover how umbrella company illustrations are formulated and why companies may be quoting you differently.
When you register with an umbrella company, your offer of employment is usually subject to you returning your signed Contract of Employment, proof of identity, your right to work in the UK, and a copy of your P45 (or HMRC’s New Starter Checklist). But why are these documents required? Continue reading to discover why umbrella companies will request these documents as part of the onboarding process.
If you’re thinking about starting a contracting career or are moving from a limited company to an umbrella company, we understand you’ll probably have a few queries about how umbrella companies work. Don’t worry – we’re here to help! We’ve summarised the main questions we get asked by contractors to help you decide whether an umbrella company is right for you.
Off-payroll in the private sector will be coming into effect in a matter of weeks (6th April 2021). It will mean that many contractors who currently work through their limited company can no longer determine their IR35 status. If you’re deemed inside IR35, you may find working through an umbrella company a beneficial option from now on.
With the IR35 reforms due to be implemented from April 2021, you may find you require an umbrella company for assignments inside IR35. Registering with an umbrella company may at first seem like a daunting experience. However, please do not worry – it’s actually very straightforward. Continue reading to discover how to register with an umbrella company.
Choosing an umbrella company can often seem daunting. There’s a lot of information online and hundreds of umbrella companies to choose from. Given that all compliant umbrella companies will pay you roughly the same (give or take a few pounds depending on their margin), how do you choose between them?
If you’ve recently secured a new role, you may be given a couple of options for your preferred method of payroll. Most commonly, there are two options: being paid through the recruitment agency, or registering with an umbrella company. Our blog explains the key differences to consider when choosing how to get paid for your temporary assignments.
Whether you’re new to contracting or are a limited company director who may require an umbrella company for future assignments, understanding how an umbrella company works is vital when deciding which provider to use. There is a lot of information that you need to take on board, and we hope the following summary is useful.
Working via an umbrella company offers a no-risk payroll option for contract work, especially if you have never worked as a contractor before, you are caught by IR35, or you prefer a more hands-off approach with your finances. We’ve compiled a list of the benefits of using an umbrella company.
