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Orange Genie News

 

Umbrella Pay Calculators

If you’re new to contracting and you’re conducting research online, you’ll no doubt have come across several umbrella pay calculators, like our take home pay calculator

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.

Umbrella Company

Even if you’ve been contracting for a while, it’s worth checking that you’re still operating in the best way for you. After all, things change and you might make a different choice based on your current circumstances. In terms of how you operate as a contractor, you’re likely to have three options, agency PAYE, an umbrella company or running your own limited company. In this article we’ll look at all three, so you can check that you’re using the right one.

If you’re new to contracting you may have been offered a choice between umbrella employment, and being paid directly by your agency. It should be a straightforward choice but there are some details that are often misunderstood. In this guide we’ll lay out how the supply chain works, so you’ll better understand what you’re choosing between.

Limited Company

Whether it happens when you retire, because it’s no longer the best way for you to work, or because you’re leaving contracting altogether, if you’re contracting through your own limited company, you will at some point need to close your company down. When the appropriate time arrives, it’s important to be aware of the tax relief potentially available on the final distribution of funds.

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