Umbrella vs Limited Company: Which Is Right for Contractors?
Umbrella companies are a great option for contractors who want to keep things simple. They take the administrative burden of invoicing, payroll and tax off your plate, giving you a final sum of ‘take home pay’ every month, or after each job. Eventually, however, many contractors make the switch from an umbrella company to becoming […]
How to Choose Your Contractor Daily Rate
As a contractor, you’re allowed to charge what you want for your services. Set it too low and you’ll be missing out on extra income. Set it too high and you’ll be pricing yourself out of work. So, how do you decide? Look online and you’ll find countless magical equations for working out your daily […]
What Are the Pros and Cons of Contracting?
Are you considering contracting? With a range of benefits – independence, greater flexibility and more money for your time – it could be the perfect next step for your career. That said, it’s not necessarily the best option for every professional. Like any big career change, it’s important to know as much as possible before […]
Contractor Self-Employment Options
Going self-employed is a big step in your career. And it could be something you look back on fondly. It gives you more flexibility, a better work-life balance and typically a higher rate of pay. But it isn’t without its complexities and hurdles, including where to start. That alone is something that puts a lot […]
What Exactly is an Umbrella Company?
Contracting is an exciting career change for professionals in all kinds of sectors. It provides more income, added freedom and extra flexibility in the way you work. Rather than providing your services to an employer, you sell them directly to a client who pays you much like another company. However, unlike another company, you don’t […]
Umbrella Company Services – The Next Steps for Contractors
8 Key Steps to Start Using Umbrella Services Umbrella companies bridge the gap between full time employment and self-employed contracting. They take care of payroll, provide regular payment terms and in some cases offer employment benefits like paid holidays and sick pay. But what steps are taken after you’ve applied for umbrella services? To sign […]
Statutory Payments for Umbrella Companies
3 Key Statutory Pay Benefits Through an Umbrella Company When you’re working through an umbrella company, you benefit from full employee status. It essentially bridges the gap between regular employment and contracting. And a key part of that is your statutory rights – including statutory payments. Holiday pay, sick pay and maternity (or paternity) pay […]
How Childcare Vouchers Are Changing for Contractors
Contractor Childcare Vouchers vs Tax-Free Childcare It’s not easy balancing contracting work with childcare. You can either cut back on work by looking after your children or lose some of your earnings paying out for childcare. Childcare vouchers offer a practical solution, giving people tax relief on the money they put towards childcare. However, from […]
How to Set Up an Umbrella Company Pension
Umbrella Company Pension Schemes – What You Need to Know Pension schemes help employees put money aside for retirement directly from their wage. The problem for self-employed professionals is that they need to manage this themselves, either by setting up a pension scheme or saving money from their income. Fortunately, umbrella companies class contractors as […]
IR35 & Umbrella Companies – A Guide for Contractors
Introducing IR35 (And How Umbrella Companies Can Help) With hefty fees for non-compliance, it’s essential for contractors to understand IR35 and umbrella companies. In short, IR35 legislation is used to distinguish between companies providing a service to clients and people who are essentially employed by those companies. But there are plenty of ins, outs and […]
