If you’re a professional Contractor and you’re interested in joining an Umbrella Company Commonwealth Contractors can help! We work with Umbrella Companies who specialise in looking after highly skilled expats on temporary UK Work Visas!
Category Archives: Umbrella Companies
Umbrella Companies make it very easy to work as a Contractor. All you have to do is generate billings and send in regular timesheets and expense claims… the Umbrella Company does the rest!
With an Umbrella Company the vast majority of your Income will be paid further to the Pay as You Earn (PAYE) system; therefore you will need to pay Income Tax, Employees National Insurance and Employers National Insurance on the sum.
With an Umbrella Company you can normally look to reclaim the cost of certain business related expenses that are incurred further to a contract. Expenses may include; Travel, Subsistence, Hotel / B&B Expenses, Professional training, Postage & Stationary etc. Expenses reduce your taxable income and boost retention!
If you are thinking about using an Umbrella Company you need to weigh up the Pros & Cons versus going into business with you own Contractor Limited Company.
An Umbrella Company is a readymade Invoicing & Payment vehicle for Freelance Contractors. The Umbrella Company acts as the ‘ultimate employer’ whilst the Contractor works on site at a Client, normally via an agency.