Not sure if you should contract under an umbrella service or if you should set up as a limited company? Choosing the right option can make a big difference to your take-home pay, so we will assess your individual circumstances and help you make a choice that’s right for you. There are three options of trading in the UK for Contractors:
- To operate through a UK Personal Service Company
- To operate through an Umbrella Company
- To operate on a self-employed subcontractor basis
Which option is best for you will be dictated by:
| UMBRELLA | LIMITED COMPANY |
|---|---|
| We take care of invoicing for you | We will assist with invoicing |
| We chase payments for you | We will assist with chasing payments |
| Insurance is provided | Insurance can be included as an option |
| Less tax efficient above £15 per hour | More tax efficient above £15 per hour |
| You will be an employee of an umbrella company | You will be director of your own Limited Company |
| Liability covered by insurance | Liability limited to company assets |
| Benefits of employment such as holiday pay and sick pay | No benefits of employment |
| Opportunity to claim expenses | Opportunity to claim expenses |
| We take care of tax and National Insurance | We will assist with tax and National Insurance |
| Costs between £60 - £110 + VAT per month | Costs £125 + VAT per month |
With more than a decade of experience behind us and a strong staff of qualified tax consultants and accountants, we have a proven history as a reliable and revolutionary contracting service.
We understand that everyone’s circumstances are unique, which is why we offer tailored solutions to fit your individual requirements. You’ll be allocated a dedicated Account Manager who will take time to get to know your case, and provide you with the best advice to ensure that you’re fully tax compliant.
Get in touch with our friendly and professional team to find out what we can do for you.