1. What is an Umbrella Company?
An Umbrella Company is an employment and payroll vehicle for individuals working on a succession of short term contracts for third party clients that allows an individual to join together what would be separate and distinct employment under one over arching employment.
2. Can I Claim Expenses?
Generally, if you are able to satisfy a few criteria the answer is yes. However, unless these expenses are recharged to the end user or agency, they will simply reduce your overall deductions for Income Tax and National Insurance.
Can I use an Umbrella Company Overseas?
The simple answer is yes. However, if an individual is working in Europe then careful consideration must be given to local Taxation and Social Security rules, as well as those on the UK side. For more information, or to discuss your unique circumstances, call us today and speak to Rob or Joanne or watch our video here.
Can I be paid self employed or receive dividends from an Umbrella Company?
Umbrella Companies are required to pay all income out to the individual worker as Employment Income only.
Call I-Paye now on 0151 449 3500