Umbrella Company for Contractors
Using an Umbrella Company removes all the stress and legal requirements of running and being a Director of your own limited company but with the benefits of limited liability status and professional insurance.
We ensure you are 100% Compliant while also ensuring your tax liability is minimised by claiming tax relief for valid business expenses. Tax saving is also available through our Group Pension and Child Care Voucher Scheme (which can save each parent up to £1,200 per annum).
Why an Umbrella Company ?
If you are a contractor, the law now makes it very difficult for you to be paid direct unless PAYE and National Insurance Contributions (NICís) are deducted in full.
Many agencies and clients require that they are invoiced for work done which in turn means you need your own Limited Company or to be part of an Umbrella Company, like PayMatters.
Being part of an umbrella company (rather than setting-up your own limited Company) ensures all your invoicing, tax, legal requirements and invoicing are taken care of on your behalf.
In return for a weekly or monthly deduction the umbrella company will take care of all the administration and paperwork.
An Umbrella Company is like having your own big back office at a fraction of the cost of setting one up yourself.