Umbrella Company Articles

New to contracting? Here’s 20 self-employment tips for 2022

Are you thinking about making the switch to work for yourself in 2022? You’re not alone. There are an estimated 4.3 million self-employed workers in the UK, but this is down from a peak of over five million at the start of 2020.

The pandemic has reduced self-employment, but numbers are starting to climb again.

Whether you are contracting through your own limited company or working through an umbrella company, working for yourself can be incredibly rewarding. It can help you do what you’re passionate about and gives you more freedom.  

But there are downsides to self-employment too. Many self-employed workers work long hours, have irregular income and need to spend time on some boring stuff like admin and taxes.

If you’re thinking about going it alone this year, these 20 tips will help you find balance, manage financially and look after yourself.

Sunak’s ‘Missed Opportunity’ to Police Rogue Umbrella Companies
marketing | 5 November 2021
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Chancellor Rishi Sunak has missed a chance to regulate umbrella companies after failing to mention it in his Autumn Budget.

The Freelancer and Contractor Services Association (FCSA), which represents compliant umbrella companies, expressed disappointment at the government’s silence on an important issue to protect temporary workers.  

One-in-three contractors working outside IR35 rules
marketing | 9 June 2021
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Following the introduction of new off-payroll working (IR35) rules in April, research suggests that around one-third of limited company contractors are currently working on ‘outside IR35’ contracts.

Separate studies from Qdos and inniAccountants concluded that around one-in-three (33% and 36% respectively) contractors have been able to retain or secure a new commercial contract.

According to the inniAccounts survey, which took place in March and April, 35% of contractors said that that they were either classed as ‘inside IR35’ or blocked from working through a personal service company (PSC).

Limited Company Contracting in 2021/22? Time for a Rethink

Are you a contractor? Are you planning to work through your own limited company in the new tax year? New IR35 rules could mean that it’s time to rethink the ltd way of working.

Changes to off-payroll working (IR35) rules mean that contractors are more likely to be caught out. From the start of the 2021/22 tax year, private sector clients will be responsible for judging a contractor’s IR35 status for the first time.

Umbrella.co.uk has become an APSCo Trusted Partner

Nick Holmes, CEO at Umbrella.co.uk, said: “We are proud and excited to announce our membership status move to Trusted Partner is now complete.”

 

APSCo (Association of Professional Staffing Companies) is the regulatory body for recruitment businesses and as a Trusted Partner, Umbrella.co.uk is monitored and regulated by APSCo’s guidance. All members commit to a strict Code of Conduct and pass an external quality check with clients and candidates.

New tax avoidance risk tool for umbrella contractors
marketing | 25 November 2021
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HMRC has launched a new tool to help contractors assess whether thei

Five things you need to know before you become an umbrella worker
marketing | 9 August 2021
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Recent changes to IR35 (off-payroll working) legislation mean that many contractors are looking to set up with umbrella companies in the UK.

Although working through an umbrella company is much easier than running your own limited company, it can be confusing if you haven’t done it before. That’s why we’ve prepared this introductory guide with some of the most important things you need to know before you join an umbrella.

Calls to regulate ‘cartel’ umbrella companies
marketing | 28 May 2021
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Industry experts have called on the government to regulate the ‘cartel-like’ umbrella market.

Former senior policy advisor to the Treasury, Rebecca Seeley Harris, and offpayroll.org founder James Poyser argue that urgent action is needed to stop scandalous companies ripping off workers and bringing the sector into disrepute. 

How to choose a compliant umbrella company
marketing | 26 March 2021
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Stricter IR35 rules mean that many limited company contractors are looking to switch to an umbrella working model.

Joining an umbrella company means that you pay tax at the same level as an ‘inside IR35’ limited company contractor, while also benefiting from holiday and sick pay entitlement.

When you choose an umbrella company, it’s imperative that you choose a compliant provider. Not doing your research at an early stage could cost you in the long run.

Umbrella compliance has hit headlines recently after HMRC warned contractors about a number of schemes offering higher than average rates of take home pay.

IR35 Contractors: Watch Out For Unlawful Umbrellas

New IR35 rules due to take effect in the private sector from April 2021 could force thousands of limited company contractors to shutter their limited company and start using an umbrella company for the first time.

Joining an umbrella company is a tax efficient way to ensure IR35 compliance while also enjoying some for the benefits that come along with being an employee, such as holiday and sick pay.

Unfortunately some non-PAYE payment vehicles also describe themselves as ‘umbrellas’ and these schemes are often illegitimate.

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