An Umbrella Company is a middle man for contractors, freelancers and self-employed individuals. Members have less hassle but have to pay a membership fee.
An Umbrella Company is a type of employment intermediary used by Contractors, freelancers, and Self-employed individuals. It essentially acts as an employer for these individuals and deals with Payroll services.
However, members might prefer to work without the help of an Umbrella Company as working with one reduces flexibility and Take-home Pay as members are required to pay membership fees to the Umbrella Company.
Members of Umbrella Companies will usually not have to deal with tax obligations as taxes will be automatically deducted through the PAYE system. However, certain individuals may still need to file a Self Assessment.
There are loads of different tax laws in the United Kingdom. IR35 is very important to freelancers and contractors but can be a little confusing. Here, we explain simply what IR35 is and who it can affect.Read more
Self-employed individuals can use two different methods to expense business vehicle costs. Here, we investigate the positive and negatives for both methods and which one might be right for you.Read more