The Low Incomes Tax Reform Group (LITRG) has recently released a report that spotlights umbrella companies. With changes to IR35 legislation increasing demand for payroll intermediaries, the report sets out to provide valuable information for contractors, freelancers and agency workers. We’ve summarised the report below, and it makes for some interesting reading.
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.
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.
One of the most frequently asked questions by contractors who are new to umbrella companies is about take home pay retention. The following article will provide you with a detailed explanation of the deductions you can expect to see to your pay when you 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?
On the 26th November, HMRC published a report entitled: Use of marketed tax avoidance schemes in the UK. The report discusses how the UK has seen a significant shift in the way promoters of tax avoidance schemes are targeting individuals, and the steps the government are taking to tackle tax avoidance.
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.
Since 6th April 2016, Supervision, Direction and Control (SDC) has restricted the tax relief that contractors working through an umbrella company are allowed to claim. Our blog explains what expenses you can claim through an umbrella company.
