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Accounting For Umbrella and Off Payroll Workers

And Nothing Fishy About It…

 

Umbrella solutions for contractors and off payroll workers

Umbrella companies process a contractor or worker’s tax and national insurance contributions, then deduct the agreed fee and pay the worker’s salary.

This method of accounting works best for contractors or workers employed on short-term contracts up to three months long and those working in the public sector.

All tax is deducted at source so you have no further liabilities at the end of the year and our umbrella solution takes care of all the accounts administration that comes with working as a contractor or off payroll worker.

Are you affected by IR35?

IR35 is a piece of tax legislation HMRC introduced to tighten the limited company setup rules so only genuine contractors can claim company tax relief and associated benefits.

In April 2017, the rules tightened again and as a result, workers in the public sector must have PAYE and national insurance contributions deducted before being paid by their umbrella agency.

The agency will determine whether your role is caught by the IR35 legislation, however, most public sector workers will have to account for their work in this way.

Cost-efficient umbrella solutions

For as little as £20 per week, we’ll take care of the administration that comes with working as a contractor or off payroll worker.

Why should you choose Cobia Accounting’s umbrella solution?

Full-service solution

We’ll take care of your tax, national insurance contributions and issue you with a payslip – providing you with a fully compliant service.

Pay as you go

If you don’t work a week, you don’t pay for our service that week. We won’t lock you in to weekly payment plans.

Fixed-price service

Our umbrella service is offered at a fixed price of £20 per week and we have no joining fees, leaving fees or hidden fees.