Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Using an Umbrella Company when Contracting

By Aimee Wells Subscribe to RSS | February 16th 2012 | Views:
loading
 
  



Over the years, many IT contractors and people that work in other industries where workers are hired on similar terms have elected to start their own limited company in an effort to minimise their end-of-year tax bill and to maximise their weekly take-home pay. However, more and more people are realising that this is not the only option that is open to them and that there are alternatives that enable them to save a lot of money without having to do any paperwork themselves.

Setting up as a sole trader is one option that involves less paperwork than forming a limited company but it can still eat into your spare time considerably and if the tax office decides that you are essentially employed on a full-time basis by the company for whom you are contracting, the time spent on keeping your own accounts will have been a complete waste. An option that more and more people are considering these days involves registering as an employee of what is known as an umbrella company. Such an organisation allows you to work for whomever you wish whilst leaving them to deal with the accounts and tax returns.

For those that worry that this type of arrangement will mean that they earn less, it will be comforting to know that it is still possible to claim for all the usual business expenses when working for such a firm. There is obviously a charge for the administrative services that they provide but in many cases, this may work out to be the same or less than a sole trader or director of a limited company would pay an accountant to look over his or her books before submitting them at the end of every year.

Many firms that provide this type of service take care of everything that a contractor would normally have to do, such as raising invoices, making payments to a tax efficient pension scheme and handling national insurance contributions. Another benefit that does not occur to people until they need to apply for a loan or mortgage is that they are considered as an employee of the company that takes care of their paperwork so there is no need to worry about having to submit several years’ worth of business accounts in order to be approved.

Aimee Wells - About Author:
Umbrella Company
Phone Number : 8443577353
Email Address : mailus@drolecomputingservices.co.uk

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

Article Source:
http://www.articleside.com/management-articles/using-an-umbrella-company-when-contracting.htm

Related Management Articles Subscribe to RSS

Why you should choose RSC for your company’s Risk Assessments?
Published by Risksafetyconsultants on April 12th 2012 | Business
Health and safety consultancy Sheffield consists of experts having years of experience in the field....
 
Get a dedicated server for your company
Published by Genevieve Ackles on January 21st 2012 | Business
Are you an online business? Then you should know how important a dedicated server is for your compan...
 
Online company registration
Published by Amber Dorsch on February 27th 2012 | Management
There are many benefits of these online company formation and company registration. But the main con...
 
Best reseller webhosting company – right cradle to care for your website
Published by Genevieve Ackles on December 31st 2011 | Business
The digital age we are thriving in has led us to think on continuous performance improvement strateg...
 
Importance of mail and fulfilment services offered in UK for the improvement of the development in the company
Published by Diego Hall on April 17th 2012 | Business
the best option to make further profit is to hand over your business to the mail and fulfilment serv...
 
Get thermal insulation materials by a reliable company
Published by Christy Jackson on April 30th 2012 | Business
The article is based on the thermal insulation materials offered by the retailers. It talks about th...
 
Only company in India for packing and shifting services you can rely
Published by Ankita Gupta on January 5th 2012 | Business
Thanks for visiting. All of us offer services on the loading and unloading, warehousing services, ho...
 
Tips for choosing an air conditioner company
Published by Sudhanshusnv on August 3rd 2012 | Business
If you will consider all these things in mind before your choosing air conditioning company, then yo...
 
What to look for in a Stage Hire company
Published by Mary Porter on July 25th 2012 | Business
Try to relax when you think about a Stage Hire, forget all those things that went wrong when you hir...
 
Reduce company overheads by incorporating your company offshore
Published by Ademholt on July 11th 2012 | Business
Are you looking to reduce company overheads?
Did you know setting up and offshore company can le...
 
The best solution of an art and graphics company with several competencies
Published by Somjons12 on January 16th 2012 | Business
imprimerie montreal is the best option to go for some of the exclusive imprimerie for you and your c...
 
Want a good painting company in Orlando? Here’s what to look for and how to find one
Published by Daniel Painting Service on May 25th 2012 | Business
Whether you’re painting your house’s exterior or giving the interior a new look, a professional ...
 
Eco friendly Promotional mugs and pens for your company’s marketing
Published by Julia Roger on July 12th 2012 | Business
There are a few that can be filled again whereas others contain nice smelling fragrances pooled with...
 
Get complete IT solution only at ePixel web design company India
Published by Epixeltechnologies Tech on December 1st 2011 | Business
ePixel Technologies is a fast growing and leading PHP web development India. Website is way to get m...
 
Best moving company with unparallel network and competitive price
Published by Ankita Gupta on December 30th 2011 | Business
Here you are at best packing and moving company. You will get loading and unloading services, wareho...
 
The Ideal dumpster rental company
Published by Travis Killian on August 5th 2012 | Business
There are several reasons why people need the service of a dumpster rental company. The reason can e...
 
An ideal shifting company with unmatched service and competitive price
Published by Kumari Ankita on December 28th 2011 | Business
Welcome to No.1 movers as well as packers. You get unmatched services from us on the loading and unl...
 
Choosing the best dumpster rental company
Published by Travis Killian on July 31st 2012 | Business
There are so many things you need to consider when planning to hire a dumpster rental service. As yo...
 
When you are to choose forklift hire company
Published by Glyn Spyke Jones on May 8th 2012 | Business
Hiring the forklifts is the best alternative if your own forklift is not working due to some breakdo...
 
The services provided by a Groundwork London company
Published by James Blee on July 17th 2012 | Business
Groundwork London services tend to be undertaken by professional companies who specialise in all asp...