take home pay Articles

Contractors count the cost of returning to the office

After more than two years where remote work was the norm, many contractors are being recalled to client offices at a significant personal cost.

While there are benefits to working from a client’s site, many contractors are finding it difficult to swallow at a time when prices are increasing.

Take Home Pay Umbrella Companies

The government has issued a warning about agencies and umbrella companies that claim to be able to help you save on tax and boost your take home pay.

Although everything may look legitimate and above board, these companies actually run tax avoidance schemes that could land you with a bigger tax bill and penalties, HMRC said.

The ‘too good to be true’ schemes work in different ways, but operators usually promise to reduce your tax liability and help you keep more of your income.

We are often asked which umbrella company will pay me the highest net pay (highest take home pay).

IR35 changes drive one-third of contractors out of self-employment
marketing | 31 October 2021
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New research shows that more than a third of contractors have left self-employment because of changes to off-payroll working (IR35) rules.

A survey published by the Association of Independent Professionals and the Self-Employed (IPSE) shows that 35% of contractors no longer work for themselves.

Private Sector IR35 Could Cost Contractors £14,000
marketing | 19 June 2018
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As the government consults on plans to extend IR35 rules to the private sector, self-employment organisation  IPSE claims that the changes could ‘strangle’ contractor living standards.

IPSE claims that the ‘inhibiting, anti-business’ policy could cost contractors an average of £14,000 per year in lost income.

Using average day rate (£430) and average weeks worked (42 weeks per year) figures from IPSE’s Freelancer Confidence Index, they calculate that a contractor’s take home pay will drop significantly.