Umbrella payroll company
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- crayz
Anyone know any Umbrella payroll company's that are based in the U.K and focus on the creative industries?
Anyone used them before? Is it worth doing this over setting up as a company? Or is the hassle of setting up as a company and getting an account going to pay off in the long run tax wise?
Thanks.
- Leigh0
I hear they take a huge cut of your money.
You're best setting up a company.
- domacle0
I used Parasol. And while they were good and easy to use (all online), you couldn't help but feel you were getting stitched up, and that the monetary benefits of freelance became somewhat redundant. I'm full time now, and don't take home that much less and get all the benefits of holidays / sick leave etc.
I'd set up a limited company if I were you - but make sure you research it properly. There's a lot of sites out there that weigh up the pros vs cons for the different types of freelance options.
PAYE is also a option if going directly through the agency (most of the time)
- blackspade0
Trust me just skip the umbrella all together and set up your own ltd co.
I've gone from Umbrella > Self Employed > Ltd Co over period of 3 years in London.
In the long run you're better off with the Ltd Co if you are contracting at different places regularly, you can hire people to set it all up for you and manage your tax returns if you cant be assed, that takes all the hassle out of it.
- chrisRG0
^^ Do what domacle and blackspade just said.
I've gone from Self Employed > Umbrealla > Ltd co.
I've used Parasol for 3 months, it's really easy but you quickly realize you can save a lot more paying for an accountant and setting up your own company.
- crayz0
Ye i think it sounds best. most of the Umbrella companies seem to charge around 35% quite a chunk really.
HOw much would an accountant change to set you up as a ltd co? i've had a quite just not sure what i should be spending.
Thanks for the advice.
Craig- If it helps Im trying http://www.no-worrie… at themo, so far so good.blackspade
- Stugoo0
Set up my limited company for 40 bucks including company house register.
I have a friend who has recommended a really good + cheap accountant.Then there is Free Agent Central, http://www.freeagentcentral.com/… which I am about to try out.
I go freelance in 2 weeks so wish me luck yo!with regards to using an umbrella company my mate gave me the following recommendations
March Mutual - a small umbrella company, the one I used. Very personal friendly guys, you email them timesheets and they sort it all out.
Parasol - a much bigger umbrella company. You do all your time tracking online and I think its a little bit more expensive.
- orpkoobcam20
If you are a contract freelance designer just going out to agencies/studios, and therefore your business accounts are super simple(just your invoices minus a few little expenses), is doing a tax return for a Ltd Co. any harder than doing a self-employed tax return?
I've always wondered that.
- crayz0
thats what I'm thinking to orpkoobcam2 . I can't see there being much more than a self assessment. is there?
- crayz0
My 2 main expenses would be accommodation and train / transport. Could maybe try and sneak cloths onto it too.