Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Umbrella Companies: Quick Tips

By Ed Lebbon Subscribe to RSS | January 18th 2012 | Views:
loading
 
  



People nowadays simply leave the comforts of their office jobs for the freedom and flexibility of freelancing or becoming self-employed. It may be easy but have you ever though t of the long term liabilities involved such as tax affairs and accounting issues? Sure working on your own terms maximizes the time and increases the effort you have for the maximum amount of money you earn, however, there are always legal issues that one must deal with.

The only choice contractors, freelancers and the self-employed have would be to go through an umbrella company. Basically umbrella companies handle all the tedious paperwork involved in tax affairs and accounting issues. They make sure you become tax-efficient and that you comply with legislation's of the HMRC and you are also IE35 compliant so you won’t have to worry about the tax man knocking on your door.

There are a few things freelancers should have in mind when selecting a company because this is not like picking off the best looking candy at the store. First, aside from making sure they are compliant with tax legislation's and laws, do make sure that there are no hidden fees such as entry or exit fees. Check out if they have penalties or minimum term commitments. Companies such as these are not a good option. Contractors should have the freedom to terminate their own contract without paying any ridiculous fees.

Watch out for companies with flashy words such as “special” expense dispensation. Don’t believe companies that say they would process your claimed expenses without receipts. This would be a big no-no. The HMRC investigates all expense claims and once found out that there are no receipts to your claims then you’d be in big trouble and not the company. Lessen the trouble by sticking to companies that ask for receipts. We wouldn’t want the tax man barging in your front door.

The best companies offer contractors a full employment status. Why so? Being deemed as fully employed under the contract of an umbrella company gives you full benefits like those working under a regular contract at an actual office job. Meaning what? You get all the sick and holiday pays, leaves such as paternity and maternity leaves plus more. Others include minimum wage and pension provisions.

Companies should have an easy to reach portal or website where you can easily ask for help from their customer service representatives. Another thing to take note of when choosing a company is the business insurance they would likely offer. This covers your injuries while on the contract.

It is not a requirement for companies but some offer perks. These perks include gift certificates or gift vouchers. Some simply use it as a marketing strategy to get you to join them. Some offer childcare vouchers. These would be of great help for contractors, freelancers or self-employed individuals with kids. Childcare vouchers aid you to get NIC and full tax that greatly minimize costs on childcare.

Remember that in choosing a company that suits you, go with those your friends would recommend. Do a search online and check out those with great comments or referral rates. Getting the right company that best suits the structure of your work is always best.

There are a lot of companies but to help you save time then you should look no further than Access-a. Access-a is comprised of a team of experts equipped with the knowledge and expertise on tax affairs and issues. We make sure our solutions make each contractor 100% tax-efficient plus we make our solutions future-proof meaning it would easily be changed in cases were legislative changes occur.

We offer the best, easy and impartial tax advice to our contractors. Aside from doing all the paperwork regarding all the tax affairs in your business, we make sure you reclaim all expenses incurred in the business. Our 24-hour portal is ready to serve you which also include your own account manager. You get access to all your work records and expenses plus monitor all payments made, payments due and funds received. With over 15 year’s experience, we are fully compliant with the HMRC and the IE35. All you have to worry about is the time you need for work. We’ll worry about your tax you and else that is left to do is for you to put your feet up.

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.


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

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

Article Source:
http://www.articleside.com/article-marketing-articles/umbrella-companies-quick-tips.htm

Related Article Marketing Articles Subscribe to RSS

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...
 
The services provided by Steel Fabrication companies
Published by James Blee on July 16th 2012 | Business
Steel fabrication companies will provide a wide range of services to many different industries that ...
 
Get safe reallocation with the right moving companies
Published by Kumari Ankita on February 25th 2012 | Business
Every one of us experience of moving from one place to another. We all move in our life form one cit...
 
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...
 
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...
 
Low cost trucking transport companies - everyone's need
Published by Richardo Haris on February 29th 2012 | Business
Trucking transport companies are among one of the most vital factors for the success and failures of...
 
Which were i would say the top medical device companies? and furthermore go about doing their specific be taken bracelets problem?
Published by Ryan Roger on May 30th 2012 | Business
Trading wants a wide range of plans and in addition association. This may equal more true designed f...
 
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...
 
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...
 
Easy moving with removal companies
Published by Glyn Jones Is A Renowned SEO Expert Working For Removal Companies Surrey. They Offer Quick And Safe Packaging Surrey Services And on May 12th 2012 | Business
Moving to a new place can be a quite trouble some job. There is need to hire the reputed moving comp...
 
Mistakes to avoid while choosing property management North Shore companies
Published by Jack on August 15th 2012 | Business
Choosing the best property management North Shore company is not an easy task. Learning more about t...
 
How the building companies work at the alteration and additions of a home?
Published by Mark Andysmith on December 8th 2011 | Business
Alteration and additions are the two most common things, preferred in any house when the inmates thi...
 
Avail superlative realloctaion srevice by packers and movers companies
Published by Kumari Ankita on April 20th 2012 | Business
Moving from one place to another has become part of our life. In this hyper busy world, we are no lo...
 
Moving companies not just for commercial but for residential reallocation
Published by Purushottam Chandra on January 10th 2012 | Business
Moving and packing has become regular core of our life. We are constantly moving from one city to an...
 
Advantages of Online TV antenna installation companies
Published by Tvconnectplus on December 14th 2011 | Business
There are a number of TV antenna installation companies that offer installation of complete antenna ...
 
Texas Utility companies offer best prices in the industry
Published by Jordan Adam on March 28th 2012 | Business
The fundamental reason for Texas Utility companies to maintain low prices whether for Business Elect...
 
Are the marketing fulfilment companies really worth their business?
Published by Diego Hall on December 2nd 2011 | Business
Only a marketing fulfilment company can ensure that all your marketing mails are not misplaced as sp...
 
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...
 
Excellent packing moving and corporate solutions under one umbrella
Published by Abhay Singh on January 6th 2012 | Business
Welcome to a packing and moving company. We solve all the issues related to shifting from planning t...
 
Hire professional moving companies to make the process smooth
Published by Ankita Gupta on February 8th 2012 | Business
Packing and moving have become regular part of our life. Bygone are the days when we are struck to t...