Tax campaigners are calling on HMRC to clamp down on firms who force workers to incorporate, to avoid having to pay Employers’ National Insurance payments that would otherwise be due if the workers were paid via the PAYE system.
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umbrella company
When deciding between contracting via an umbrella or limited company, the main factors to consider are typically; the tax differences between the two structures, your IR35 status, and how much perceived ‘paperwork’ is involved. One service provider says that 50% of umbrella company contractors would be better off by incorporating.
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Here is Company Bug’s overview of the business expenses can you claim back if you are working via an umbrella company scheme, including a look at what expenses dispensations are.
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Once you’ve decided to become a contractor, there are a number of steps you will need to take before you can embark on a successful contracting career.
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Most contractors operate either via a limited liability company, or an umbrella company (which is operated by a professional firm). Here we look at the pros and cons of contracting via an umbrella company
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