Bridging the Gap
PAYE For Contractors
Contracting
Contractors are paid through one of two types of payroll structures: umbrella companies or limited companies. Both have pros and disadvantages, but depending on the conditions of a contractor, one will usually give more advantages than the other.
Ease of use & Setup
Instant set up, very little admin and no legal duties.
Tax Efficiency
Your entire salary is taxed via PAYE. Less tax-efficient than working via a limited company.
IR35 Consideration
IR35 is irrelevant, as you are already taxed as an ‘employee’. Not ideal if you plan to work for several clients at the same time.
PAYE FOR CONTRACTORS
Using an umbrella corporation is the simplest way to get paid. It’s simple to sign up for an umbrella company, and once you do, you become an umbrella company employee. With this payroll solution, you won’t have to set up your own company or deal with any administrative responsibilities other than submitting timesheets. Your umbrella payroll provider will manage all taxes, including income tax and national insurance.
When you choose this option, you won’t have to worry about IR35 regulations. However, umbrella enterprises are not the most tax-efficient, and if you have the option to contract through a limited company, you
may be able to raise your net pay.
For first-time contractors
We provide a variety of services.
We are delighted to have assisted over a thousand clients to date, so you can rest certain that you are in good hands, since customer service and compliance have always been our top concerns. When you speak with one of our representatives, you will receive knowledgeable and personalised advice to help you get started with contracting.
BENEFITS
- Maximise your earnings
- Low Risk – fully compliant UK based tax treatment
- Access to our Contracting Support Team
- No Admin No Hassle
- Pain free payments
- Our Contracting Support Team is available to you.
