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Contractors/Freelancers Tax

What we do for you:

Through our umbrella company service we employ you while you are a contractor working on contracts within the UK and with HM Revenue & Customs IR35 rules. This means that we operate the limited company and there is no need to form your own.

We administer the contract on your behalf with the client or employment agency.

We invoice clients or employment agencies on your behalf.

You are entitled to VAT refunds and tax relief on legitimate company purchases; we can calculate these for you and they are processed monthly.

We operate full monthly PAYE and NI arrangements with expenses, and pension allowances, minimising your tax liability and keeping your tax records straight an up-to-date.

If you are already on a contract, it is usually possible to switch if you wish into our service at any time.

You can leave the service at any time although we ask that two weeks written notice is given so that there is sufficient time to complete the necessary paperwork.

Included in our service is a 'holiday/sickness provision' which usually deducts a percentage (usually 10%) of your gross pay from each payment. This is placed in a 'personal reserve' for you to ensure that you have some income during periods of sickness and holidays.

What we do not do for you:

We cannot pay you if the Client or agency defaults or pays late.

Advantages

You only pay our fees while you are working on a contract. If you are out of work, on holiday or sick then your overheads are zero. You know exactly how much your administration overheads will be for any period of time - there are no "financial surprises".

As an employee of a relatively large limited company you can apply for a mortgage or loan based on your salary.

You do not need to pay an accountant or have time off to do your books, VAT returns or any of the administrative tasks involved in running a company.

Need advice? Call us today on 0845 867 9294 or fill out our contact form.

Registered Address: Your Tax Office Ltd. Eastway Enterprise Centre, 7 Paynes Park, Hitchin, Hertfordshire SG5 1EH. United Kingdom. Registered in England under company number: 540749. VAT No:912 5962 20. Designed by: IceStar Media - Osiris Portal.