Today (30th October 2024), Chancellor Rachel Reeves delivered the new Labour government’s first Budget. Our latest article summarises the key announcements in the Autumn Budget 2024. Overview of the Autumn Budget 2024 The Chancellor announced that the Autumn Budget aims to fix the foundations of the economy and deliver change …
Autumn Budget 2024: What were the Chancellors’ Key Announcements? » Read the full story
Contractors and freelancers in the UK are commonly faced with two options when choosing how to operate: umbrella company vs limited company. Our latest article provides an overview of an umbrella company and a limited company, plus the advantages and disadvantages of both options to help you determine which option …
Receiving your first payment from an umbrella company can often be confusing, especially if you are new to contracting or have previously worked via a limited company. Before registering with an umbrella company, contractors usually ask: “How much money will I earn when I work via an umbrella company?”. Our …
How much money will I earn when I work via an umbrella company? » Read the full story
The Supreme Court has rejected an appeal by the Professional Game Match Officials Limited (PGMOL) challenging a £584,000 tax bill imposed by HMRC about the employment status of 60 referees. Although a final judgement has not been made, the Supreme Court has remitted the case to the First-tier tribunal to …
UK Supreme Court rejects PGMOL appeal over £584,000 tax bill » Read the full story
If you are a contractor working via an umbrella company, you may wonder if you must submit a self-assessment tax return. Our latest article provides an overview of when contractors may be required to submit a tax return when using an umbrella company and examples of when they do not …
When accepting a temporary assignment through a recruiting agency, contractors and freelancers in the UK are frequently given two payroll options: umbrella company vs agency PAYE. Continue reading to learn the difference between an umbrella company and agency PAYE. Umbrella company vs agency PAYE: what is the difference? The …
Umbrella company vs Agency PAYE: what is the difference? » Read the full story
Payslip Buddy, an AI-powered umbrella payslip auditing software, has released a free and comprehensive umbrella company calculator, and we recommend our readers check it out. Please keep reading for more information, including a calculator link and some screenshots highlighting its features. An overview of the Payslip Buddy umbrella company calculator …
Salary sacrifice isn’t for everyone. However, it can be an excellent way for employees to boost their earnings in a tax-efficient manner. This article sets out to answer the most common questions on salary sacrifice with umbrella companies. Keep reading to find out more. Do umbrella companies offer salary sacrifice? …
Can you use salary sacrifice with umbrella companies? » Read the full story
Non-compliant umbrella companies are causing havoc in the industry. However, it’s worth remembering that compliant umbrella companies help the government and don’t contribute towards lost tax. Please keep reading, and we’ll explain what we mean. We also look at the difference between compliant and non-compliant umbrella companies. Helping contractors pay …
Compliant umbrellas help the government and don’t contribute towards lost tax » Read the full story
To help people cope with the pressure of the pandemic and the confusions it’s bought to the UK, HMRC has confirmed taxpayers now have until the 28 February 2021 to submit their 2019/20 tax returns – to avoid a penalty. However, it’s still advisable to meet the end of January …
If you’re using an umbrella company for your payroll, or you’re considering it, you should already know what Pay as You Earn (PAYE) is. However, if you’re not, or you’d like a friendly reminder – keep reading! We’ll cover the basics. What is PAYE? Pay as You Earn, or usually …
Using an umbrella company is a simple, hassle-free way to get paid as a contractor, and the majority of umbrella companies operate in a compliant fashion. Unfortunately, there are a few unscrupulous tax avoidance schemes that disguise themselves as umbrella companies, and using one of these could land you in …
The warning signs of a tax avoidance scheme » Read the full story
Changes to off-payroll in the private sector are set to roll out in April 2021. They may be a year late, but they’re coming! It’s expected that several limited company contractors may find themselves inside IR35 at some point in the future, and as a result, umbrella companies may see …
A report published on the 26th November 2020 by HMRC discusses marketed tax avoidance schemes, and it makes for some fascinating reading. Entitled ‘Use of marketed tax avoidance schemes in the UK’, HMRC cover the size of the UK’s tax avoidance market, promoters of tax avoidance schemes, and what HMRC …
Whether you’re new to contracting or you’ve been doing it for donkey’s years, you’re probably keen to get an accurate indication of your take home pay before starting an assignment. And, as we’re dedicated to helping the UK’s temporary workforce understand all-things umbrella – we thought it’d be really useful …
Getting the most out of an umbrella company calculator » Read the full story
An interesting question – and one that is regularly asked online by umbrella company employees. The short answer is that it depends entirely on your personal circumstances. If your only source of income is paid to you via an umbrella company (PAYE) – you don’t need to submit a personal …
If you use an umbrella company, do you need to submit a personal tax return? » Read the full story
