Orange Genie News

Tax return

One thing most contractors have in common is that they have a great many demands on their time, so when we say you should be spending this valuable commodity on filing your tax return, it might seem like a lot to ask, given that we’re still months away from the deadline. However, we know from experience that contractors who submit their return early have an easier time and it really is in your best interests to get it done now. Here are the six most important reasons why.

Accountant

Switching Accountant? Learn from Rob's Experience of Changing Accountant

Rob has provided specialist services to the television and film industry for many years but until 2014 he did not take specialist advice himself!

Umbrella Company

So, you’ve established that your contractors are working inside IR35, and you’ve wisely decided to recommend an umbrella company as the best option for them. At this point, they’re still going to need your help, because choosing an umbrella company has many pitfalls for someone who isn’t familiar with the contracting industry, or doesn’t know what to look for. So, how do you know the company you’re recommending is the best one for your contractors?

Umbrella Company

For recruiters engaging contractors inside IR35, it can be difficult to decide whether to suggest agency PAYE or employment with an umbrella company. To complicate matters further, the term “umbrella company” means different things to different people, and your contractors’ previous experience of them will vary widely.

tax avoidance

Tax avoidance schemes are still active, and still exploiting contractors. Perform a Google search for “umbrella companies” and you’ll find a number of websites offering to compare umbrella companies for you. We’ve seen similar offers being made on social media too, and this worries us. In principle, comparing loads of umbrella companies to find you the best one is not a terrible idea, but even if those websites are actually comparing real umbrella companies, they’re focusing on the wrong details and that puts you at risk.

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