More on Umbrella Companies
Working alongside an umbrella company may seem to some individuals like a long process, however it is a simple route. We have provided a guide on how they work with their fees and costs. Different companies will have different services, and as a result costs vary… click here to read more.
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Limited companies are incorporated, meaning they have their own legal identity and can take legal action against or own assets in their own right. The ownership of a limited company is split up into equal sections called shares, and whoever owns one or more of these is called a shareholder… click here to read more.
What is A Limited Company?
So, you have just been offered a new contracting role and you are excited to be self-employed, your recruiter has informed you that you need to be paid using your own Ltd Company… click here to read more.
What is IR35?
The act that was introduced in April 2000 affects limited company contractors, it is a piece of legislation that applies to limited company contractors, if you are working for a client through your own limited company and you work the same way as an employee of the client, IR35 says you need to be paying income tax and… click here to read more.
What is an Umbrella Company?
An umbrella company is a PAYE payroll administration company that acts as the employer for contractors who work on an assignment basis.
What are the benefits?
As an employee, you have full entitlement to state benefits like Statutory Sick Pay, Statutory Maternity Pay and a State Pension. The umbrella company acts as your employer and so can provide a continuous record of employment which can assist with loan and mortgage applications.
Are Umbrella Companies safe?
We only recommend trusted Umbrella Companies. We thoroughly research all the Umbrella companies on our site to ensure that they are compliant with HMRC guidelines and provide excellent customer service.
How do I choose an Umbrella?
Contact us at admin@pay-solve.com and we can help you make the right fit to your payroll puzzle.
How do NI payments work?
The Umbrella Company processes PAYE payroll as your employer.
Pay As You Earn, or PAYE, is the taxation system used by HMRC to collect Income Tax and National Insurance Contributions (NICs) from employees. The amount deducted will depend on your earnings and the tax code you are on.
This means that as a PAYE employee of an umbrella company, you won’t need to submit any kind of tax self-assessment. You will be paying your tax and National Insurance contributions as you go.
Payroll can be puzzling, but at PaySolve, we unravel the complexity and find the right fit for your payroll puzzle.
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