Umbrella company advice and news
From the monthly archives:
It is human nature that people will look for ways to save money and advertisements promising 85% or even 90% take home pay from your earnings will always be tempting. So, is it possible? Yes, definitely. Is it risk free? Definitely not? In fact, you can quite safely say that the risks attached to ‘tax saving’ schemes are astronomically high.
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One of the most common questions that I am asked is how an umbrella company can ‘maximise’ a contractors’ earnings; the answer is that it can’t. All umbrella companies operate in exactly the same way and all are governed by rules and regulations that are applied by HM Revenue and Customs.
That said, I am sure [...]
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Anyone who has seen the film Minority Report will understand the concept of punishment for a crime before it has happened based on the visions of the thought police. A thought provoking fantasy, one would think, without any basis in reality…….until now.
It is common knowledge that HMR&C are currently exploring the many uses for retrospective [...]
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There have been so many questions by new contractors about umbrella companies and the way that they work that I thought I would start a blog to try and answer the most common questions. Firstly and most importantly all umbrella companies are governed by the same rules. All will process your payments through PAYE (Pay [...]
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If you have researched umbrella companies you will probably have come across the term ‘Dispensation’ or even ‘Special Dispensation’. It is a word that, for some companies, forms the basis of advertising and marketing campaigns e.g. ‘Contractor dispensation – high take home pay’ or ‘HMR&C approved expenses dispensation’. So, will an umbrella company’s dispensation increase [...]
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