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.
Whether you are new to contracting or are a seasoned contractor, making the right decision for your payroll is essential. When answering the question “should I use an umbrella company?”, you need to take into consideration whether you are inside or outside IR35 legislation, and whether an umbrella company is the best option for you based on the assignments you want to work on.
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.
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.
An umbrella company directly employs contractors and freelancers in the UK and offers a simple and straightforward payroll service. When you register with an umbrella company, they will take care of a majority of the administration – leaving you with more time to focus on your work.
The winter holiday season is coming up, and if you’ve got time off lined up you may like to know how holiday pay works through an umbrella company.
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.
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.