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Umbrella
With the introduction of the new Managed Service Companies Legislation which has been in the pipeline for sometime, now in force it is without doubt the most important piece of law in respect of Contractors operating through Managed Service Companies.
We have been prepared for this scenario and already have in place our fully legitimate Payroll Company whereby you will have all the necessary PAYE and NI deductions made before receiving your funds.
Although you won’t be as financially well off as you would have been working through your own limited company (in terms of structuring your payments in the most tax efficient way), you may be able to offset business expenses against your gross earnings.
The key point is that all the hassle and worries associated with owning and running your own limited company brought about by the latest legislation make the Umbrella option a very viable option, not to mention the safest as you need not worry about the Taxman at the door.
We are backed by over 20 years of experience and integrity to ensure that we and ultimately you are fully compliant with the legislation.
We take care of the necessary paperwork that you would expect from an Umbrella Company and all at the cost of £16.00 per week or £60.00 per month, whilst you work with us.
By being CIS Registered with us we will relieve you of all the hassle and other responsibilities eg reporting to HMRC, of operating the scheme yourself. Although CIS Cards and Vouchers are no longer required under the scheme a lot of administration is still needed and the penalties for non-compliance more severe.
Just let us know how much to invoice for and when paid we will send the balance to your Nominated Account, same day if you wish, at an extra charge made by the Bank. You will also receive a payslip showing all the details of the payment and necessary deductions made.
For more information contact us.
Isle of Man, IM1 2SN
Telephone: + 44 (0)1624 621546 / Fax: + 44 (0)1624 622794