PAYROLL OPTIONS
PAYE
Standard PAYE option is for those whose assignment is deemed to be inside the IR35 regulations.
Employee
For contractors whose assignment is deemed to be inside the IR35 regulations. This option offers an employment contract and other benefits.
This option is for those working on multiple assignments who wish to be paid through their Ltd Company. We'll make the statutory deductions on your behalf to ensure full compliance.
Deemed Tax
We can make payments to your Ltd Company business account in accordance with your IR35 assignment status determination.
Ltd Company (PSC)
Under the Construction Industry Scheme, we deduct the statutory tax at source, from payments relating to construction work. Contractors then receive payments net of tax deductions.
CIS
BENEFITS
Continuous employment record
Holiday entitlement & pension
Online portal access
Statutory payments
Eligible to claim tax relief
£25m insurance cover
Online portal access
Correct PAYE and NI deductions
Contractor retains Ltd company
Fully compliant
Quick easy set up
Dedicated on-boarding compliance team
Online portal access
Intermediary reporting
Weekly or monthly invoicing and fee payments
Higher net pay than employment minus HMRC deductions
Online portal access
Admin support – invoices raised, CIS deductions, pay advices
Employee
Deemed Tax
Ltd Company (PSC)
CIS
Holiday entitlement & pension
Online portal access
Statutory payments
Easy implementation of all relevant taxes
£25m insurance cover
PAYE
If you are looking for an easy online payroll solution, with clear benefits and easy implementation for your business, contact us today for a quote.
FAQs
Umbrella Company or Agency PAYE?
Although a Direct PAYE engagement is still fully compliant, engaging this way means that with every new assignment you will work under a new contract. This could mean that your tax code won’t be consistent and you may not always have the option to turn down work.
Both Umbrella and PAYE provide the security that there will be no unexpected tax bills, you would be fully covered by the agency insurances and both options will automatically enrol you into workplace pension after 12 weeks of employment.
An umbrella model, however, allows you to maintain the flexibility of being a contractor without the administrative burden of maintaining your accounts, business insurances and keeping up to date with changes to tax legislation.
Some umbrella companies also allow you to sacrifice your salary into a personal pension/SIPP.