If you search the web for potential umbrella company providers, you’ll often find advertisements claiming to offer 90% or more take home pay after tax – using ‘compliant’ schemes. Here we examine why contractors should approach such schemes with caution.
Business Structures - Umbrella Companies
Virtually all IT contractors work via limited or umbrella companies. In this section, we explore how PAYE umbrella schemes work.
If you decide to contract via an umbrella company, you will be entitled to receive holiday pay (as an employee of the company). Here we look at what holiday pay is, and how it is calculated.
If you have decided to go down the umbrella company route, there are dozens of providers out there. Here we look at some important things to consider when you are choosing a prospective provider.