Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Making Right Decisions: Umbrella Company or Limited Company?

By Ed Lebbon Subscribe to RSS | December 17th 2011 | Views:
loading
 
  



Contractors go to all the trouble deciding which option is best for their business because choosing between an umbrella company and a limited company has a great impact. The process of choosing should not be difficult. Here's what any contractor should know about the two. Take a look at the aspects surrounding options that are available to contractors.

First up is the Limited company. Basically it's an entity which is entirely separate from the people who own and run it. Also, in its basic level, it is considered to be an entirely legal entity all on its own. Now what makes a limited company an attractive option for contractors? Aside from the element of limited liability, operating through this process greatly reduces risks that could be faced by directors or shareholders. Despite the workload involved in such a process being considerably higher, basic elements such as an in-depth completion of tax returns and VAT to legitimate registration of any company's name plus reconciliation of expenses, opting to create a limited company is somewhat the more suitable option.

Given that, let us proceed to the next option which would be an Umbrella Company . Umbrella Companies in a sense act out services specific to the needs of each contractor. In an essential way of putting it, these companies act the part out of being an employer to all contractors engaged in contracted tasks. The process utilized for contractor's payroll is called PAYE and aside from that process, companies such as these offset expenses incurred by the business. These expenses include accommodation and travel expenses which are of course taken against the contractor's tax.

Like employment under a direct or permanent employment relationship, companies that take on the second process are also subject to the same employment benefits and rights. These include paternity and maternity leave, sickness pay plus the full minimum wage which would of course be sponsored by contractor's chosen umbrella companies.

Those mentioned still do not include other advantages of an umbrella company. These advantages also include: reduced paperwork because tax affairs, taxation and expenses are all covered, additional opportunity in investing on training courses plus pension schemes and finally the best advantage so far includes the fact that one does not have to worry about IE35 legislative issues.

Contractors are always in need of advice regarding issues such as these and with such options discussed as easily as possible then this would easily aid in the decision process. Of course, whatever option one chooses it is best to do a thorough research through each option. Think of what you may gain or lose as a contractor. Advantages and disadvantages of each option should be carefully weighed out. Ask around for referrals or do a search on the World Wide Web.

Aside from weighing in on the pros and cons of options a contractor is to choose from, it is also best to base all decisions on the requirements one has at hand. Think of the services a contractor such as yourself is to provide and what the best ways or how your services will be served out or applied. Ask yourself, can you handle tax affairs? Is accounting or tax issues your best bet? Is the sense of reliability allied with the company an important aspect?

Well, Contractors should look no further than Access-a. It provides you with a conceivable process that is surely the answer to any tax related worries. A plus about our services is that they are future-proof. Our team comprised of knowledgeable and experienced individuals aim to give you the solution you need. Aside from giving you easy and impartial advice, we work hard to assure that you are as tax-efficient as possible. With us, you can never go wrong and all questions never go unanswered.

Ed Lebbon is the owner of Access-a Umbrella Company, Access-a is an umbrella company offering the benefits of a limited company without the administration or statutory responsibilities. With our solution, you don't have to worry about IR35, the Managed Service Company or Third Party Debt Legislation - you are outside of these regulations.

To know more about Umbrella Company visit our website http://access-a.co.uk/

Ed Lebbon - About Author:

Ed Lebbon is the owner of Access-a Umbrella Company Access-a is an umbrella company offering the benefits of a limited company without the administration or statutory responsibilities. With our solution, you don’t have to worry about IR35, the Managed Service Company or Third Party Debt Legislation - you are outside of these regulations.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/article-marketing-articles/making-right-decisions-umbrella-company-or-limited-company.htm

Related Article Marketing Articles Subscribe to RSS

Getting Beyond the Evident Steep ledge: Pharma Couple Suffering from Online companies
Published by Alistar Cook on December 29th 2011 | Business
Prevailing business ventures really want a great amount of new development, unique things but fantas...
 
Get versatile reallocation services by these innovative companies
Published by Ankita Kumari on January 12th 2012 | Business
Rapid industrialization and commercialization are creating enormous demand for packing and moving co...
 
Business process outsourcing companies help organizations improve back office efficiency
Published by MOS Outsourcing on May 28th 2012 | Business

Business process outsourcing companies help organizations improve back office efficiency by prov...
 
Benefits of mail franking for small and large companies
Published by Mr Des on June 22nd 2012 | Business
Franking is very good in technical terms. It can be used to manage the mails. And it can save time a...
 
Why do people need shredding companies?
Published by Mary Porter on June 17th 2012 | Business
There are many mediocre shredding companies so make sure you choose one which has a reputation for o...
 
How do energy companies calculate business gas usage?
Published by Sean Burke on May 4th 2012 | Business
The amount of gas your business consumes should be directly proportional to how much you pay.
...
 
Plant hire companies in New Malden and Epsom
Published by Glyn Jones............ on April 18th 2012 | Business
For any construction company a lot of money is spent on hiring of plants. So it becomes very importa...
 
Some advantages of the fulfilment houses and the stock management companies
Published by Diego Hall on January 9th 2012 | Business
A business can only be successful enough when it is dealt professionally in terms of stock managemen...
 
Get Help from PEOs Avail the benefits of the services offered by PEO companies
Published by James Blee on May 16th 2012 | Business
It is not without reasons that more and more organizations are resorting to seek help of PEOs or Pro...
 
Lumber exports of softwood lumber should target wooden packaging companies
Published by Interpro Forest Products on March 7th 2012 | Business
Canadian lumber exports are currently targeting the residential/industrial construction and interior...
 
Explore multi benefits of packing and moving companies
Published by Ankita Gupta on February 27th 2012 | Business
Packing and moving is very stressful task for most of us. Shifting from one place to another, make h...
 
Various pricing strategies adopted by companies to improve sales
Published by Annphilip on March 8th 2012 | Business
Pricing strategy depends on both the external factors and the internal factors of an organization. S...
 
Contract Loan Processors : the solution that many companies seek
Published by Amitaabh Saboo on January 12th 2012 | Business
There are diverse manners by which a company is able to be processing a loan, but the most excellent...
 
Accounting Outsourcing offers advantages for Small companies
Published by Amitaabh Saboo on January 6th 2012 | Business
Being someone who is running a small company, you are familiar with the way in which cost is able to...
 
Specialty Chemicals - Can give you the edge over competing truck companies
Published by Ezoilproducts on August 24th 2012 | Business
Trucking is a highly competitive industry where there is a constant battle to keep trucks on the roa...
 
About PCB prototype manufacturing companies
Published by Chris Adam on January 16th 2012 | Business
Printed Circuit Board or PCB manufacturing and assembling services are delivered by several manufact...
 
IS BIM worth implementing in medium sized companies?
Published by Macjohn on August 25th 2012 | Business
Implementation of Building Information Modeling has not been a major concern with large construction...
 
Specialty Chemicals - Can give you the edge over competing truck companies
Published by Ezoilproducts on August 24th 2012 | Business
Trucking is a highly competitive industry where there is a constant battle to keep trucks on the roa...
 
Many companies offer SmartSyncSoftware.com Voucher Codes as a way to magnetize new shoppers
Published by Gayathri Divyavanidevi on July 9th 2012 | Business
Many companies offer SmartSyncSoftware.com Voucher Codes as a way to magnetize new shoppers or induc...
 
Chartering Private Aircraft is an essential form of transport for many individuals and companies.
Published by James Blee on June 16th 2012 | Business
As a qualified Chartered Surveyor with over thirty years of experience providing clients across some...