A lot of contractors decide that the best way to operate their business is to avoid umbrella companies and start their own limited company by incorporating a company of which they as contractor would be a director. However, for various reasons some contractors operating this manner are unable, unwilling or simply just don’t pay the… Read More »
Most contractors will already be aware of what tax codes are from their previous roles as they are not solely given to contractors but rather all working UK residents. For those that don’t know, tax codes are a way of helping the HMRC with their cash flow and are based on the level of tax-free… Read More »
On occasion, Her Majesties Revenue and Customs (HMRC) will perform an inspection into contractors VAT submission. There are no set criteria for when or why this will happen but it can often come down to a matter of comparison. For example, they will often compare your VAT returns with those of other contractors of your… Read More »
Once you have made the decision to use an umbrella company and have selected a company you wish to use, the next step is actually joining the company. In most cases, you are able to register with the company online but if you would prefer to speak to someone first and register over the phone… Read More »
UK contractors often have clients who request that they work overseas or secure clients who are based overseas. This can be a difficult issue when figuring how this leaves them in terms of the UK tax system. Those who are subject to the IR35 regulation often worry about the implications of working for clients abroad… Read More »
Umbrella companies are the easiest way for contractors to ensure that all your taxes and admin is taken care of so you can focus on your work. Benefits of Using an Umbrella Company Umbrella companies are also able to provide you with the relevant insurance policies to provide you with protection should there be any… Read More »
Umbrella companies are generally seen as the simplest way of ensuring that all your taxes and the administration side of the business is taken care of so you can focus on your work. This kind of company would also be able to provide you with the relevant insurance policies to provide you with protection should… Read More »
If you are contemplating moving to the United States to work as a contractor, the American government provides entry and residence in the country through what they call a “green card” which is a form of proof that they are living in the country legally. Anybody looking to stay in the country for good is… Read More »
After you have agreed with an agency on the terms of your contract, the recruitment agency will require you to have arranged a payroll solution to process your payment. There are three popular ways this – to use an umbrella company, a limited company or through PAYE (via the recruiters/client). Umbrella Companies – Pros and… Read More »
We are hearing more and more in the news about the low-income that our National Insurance contributions pay for when it comes to claiming our pension on retirement. For this reason, more and more focus is being placed on private pensions and the government are encouraging these with a series of tax advantages for those… Read More »