Industry News Articles

4Dm1n | 31 March 2010

The simple answer is yes you could have 2 Umbrella Companies.

It is just the same as having two jobs or 2 employers.

If you're a contractor worried about how today's budget may affect you and your family then the good news is PayMatters will be providing a summary as it happens.

4Dm1n | 9 August 2009

The recent Lords ruling in the case of Stringer v HMRC means that some contractors (so called permtractors) may be able to claim holiday pay from the client they are working for.

4Dm1n | 26 July 2009

If you are paying a £15 (or more) CHAPs fee for same day payments with your Umbrella Company then you don't need to.

Often Umbrella Companies quote that if you are a contractor looking to join them then your contract must be be for a period of less than 2 years. This isn't stricly true.

No huge shocks with duty increases on high value home purchases and the usual culprits: beer, tobacco and petrol!

Income Tax and Personal Allowances. No change to rates previously announced. The changes previously announced mean the following changes from 6th April 2010:

4Dm1n | 17 September 2009
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HMRC have the following advice for contractors who expect their contract to be for a term greater than 2 years.

The Agency Workers Directive is expected to mean that "contractors" working through Umbrella Companies will also be classified as workers in the Working Times Regulation 1998.

HMRC have just issued a new consultation document titled: "False self-employment in construction: taxation of workers". HMRC is requesting all comments on the proposals should reach them by 12 October 2009.

Strictly speaking Umbrella Companies don't charge a "fee". If they charged a fee then it would be subject to VAT. What they do do though is pass on an administration cost in calculating the profit on your contract. This is called the umbrella company's margin.