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Limited company contractors: How to keep your PSC going through this crisis

The coronavirus outbreak presents a special kind of business crisis for limited company contractors.

Many industries have already experienced a sharp contraction and analysts suggest that things are going to get worse before they get better. Thankfully, however, they’re also forecasting a relatively quick turnaround. 

Businesses that were viable before the international pandemic will be viable again, limited company contractors just need to keep their personal service companies (PSCs) going for long enough to see the economy return to pre-crisis levels.

We would like to share some tips to help your business and your family keep going.

New research from the Citizens Advice Bureau (CAB) has found that less than half of people who say they’d like to be self-employed are actually working for themselves.

A lack of support and guidance for tasks like budgeting and filing tax returns was highlighted as one of the major barriers stopping would-be self-employed workers.

The national charity also found that the gap between self-employment aspiration and achievement grows larger for adults under the age of 35.

Almost half (48%) of people aged 18-34 said that they would like to be self-employed but only 7% of people in this age bracket work for themselves. 

Umbrella.co.uk supporting East Cheshire Hospice

Umbrella.co.uk are delighted to be able to present a cheque for £2912.80 to the East Cheshire Hospice (www.eastcheshirehospice.org.uk) this week. 

The Hospice has long been a cause Umbrella.co.uk have liked to support and the funds raised from recent activities will we hope go in some small way to supporting the fantastic work they do. 

The cheque is shown being presented by Peter Langham, Director of Umbrella.co.uk to Kate Bowmar of East Cheshire Hospice.

 

 

 

 

 

d the funds raised from recent activities will we hope go in some sma The cheque issented by Peter Langham, Director of Umbrella.co.uk to Kate Bowmar of East Cheshire Hospice.