PAYE For Contractors
UMBRELLA SOLUTIONS
Why Use Bridge Arc Umbrella
If you work for different agencies and are on PAYE, you may have multiple tax codes and be subject to emergency tax while working for one over the other. You’ll only have one employer and one tax code if you use Bridge Arc umbrella services, so you won’t have to worry about paying too much in emergency tax. You’ll be given the same benefits as a normal employee, giving you the freedom to operate as an independent contractor while also having the security of a regular employee. An umbrella option can be helpful if you don’t have time to deal with a lot of paperwork or don’t have self-employment but want to maximise your earning potential.
- Online and same-day registration
- View your pay information on your portal 24/7
- Payment notifications via SMS, email and your pay portal
- No setup or exit fees
- Expert advice available
- Claim back allowable expenses
- Employment rights
- HR support
- Holiday pay
- Reduced administration
- Employee benefits scheme
TIMESHEETS & INVOICING
You will provide us and your recruiting agency your timesheet, pay rate, and expense information on a weekly or monthly basis, depending on your option. We'll send you an invoice based on the information you've supplied, and you'll have to wait for payment.
PAYMENT
We will pay you a net wage after deducting necessary taxes and national insurance payments when we receive payment from your agency (NIC). You will be paid weekly or monthly, depending on your pay schedule, and you will receive notification of your termination.
REGISTERING
You will become a Bridge Arc employee if you select the PAYE Umbrella option. SbIec and nsuran IN are used to make all payments to you. We subtract tax and NI at the time of collection and pay your net salary according to your payment plan.
OTHER SOLUTIONS
Paymnt options
Contractors are paid through one of two types of payroll structures: umbrella businesses or limited firms. Both have pros and disadvantages, but depending on the conditions of a contractor, one will usually give more advantages than the other. Changes in legislation, as well as the length and value of a contractor’s typical assignments, are just a few of the factors to consider when deciding between payroll structures.
For Recruiters
For Umbrella Companies and Contract Agencies, an agreement between at least two organisations within a contractor supply chain has become a very typical employment model.
