Umbrella companies aren’t regulated. As such, there are many rogue companies, advertising high take-home rates, which may land you with a hefty tax bill. Even well-known umbrella companies are far from perfect with hidden costs to cover expenses their business models attract. It’s a case of buyer beware, and especially now as companies enforce blanket bans on personal service companies to manage IR35 compliance.
In April 2020 it became mandatory for recruitment agents to provide all agency workers with a Key Information Document (a KID) early in the negotiation process. A KID is a short document that’s designed to provide complete transparency of the payroll supply chain, and will help you to spot any shady goings on.
Fraudulent ‘Mini Umbrellas Companies’ hit the headlines recently. James Poyser lifts the lid so you don’t get caught out.
2020 has been… unusual to say the least, but social distancing doesn’t mean you can’t celebrate Christmas in style! HMRC allows limited company owners to reward your employees (and their partners) with annual events; such as a Christmas party. Whilst restrictions mean a physical event is unlikely this year, online events are also eligible for tax relief.
We know it’s a bit early to be mentioning the C-word. But, many Limited Company owners are unaware that HMRC allows you to reward your employees (and their partners) with annual events; such as a Christmas party. Even if you’re a one-person company you can still claim back the cost of annual company events – so why not treat you and your partner to a festive soiree?
We decided to find out exactly what’s involved with setting up and running an umbrella company. It was an eye-opener.
Find out what we learnt (including that recruiters are the true clients, not contractors) in our brand new podcast.
Our latest Proudly Offpayroll podcast lifts the bonnet on what’s happening with regards to PSC bans and why.
Introducing Proudly Off Payroll, a regular podcast celebrating the independent consultant and providing the expert advice you need to succeed.
If you’re passionate about building a service business, consulting or contracting, then being outside IR35 is a near-imperative. That’s because the more interesting, complex or bigger your ambitions become, the more costly it is to be deemed inside IR35. When does it pay to be outside IR35? By operating outside IR35 you have access to […]
The Treasury will be pressing ahead with IR35 reforms in April. Here’s what the March 2020 budget means to contractors and consultants.
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