Insurances that a Contractor should have 

There are three main types of insurance that a Contractor should consider: Public liability insurance This covers physical damage or harm done by the contractor whilst representing their business. This is a legal requirement – and contracts generally require £5m...

Warning! Umbrella companies – loan charge from HMRC

I have a client who recently came to us for help with her tax return with some letters from HMRC.  She is a social worker who was getting work via an Agency – and she was being paid by an Umbrella Company.  The lady isn’t British and took all the advice she received...

Contractors – what are the options for a new starter? 

There are generally three options – Agency payroll, Umbrella company and your own limited company (Personal Service Company). Agency payroll This is self-explanatory.  You will pay tax and NI on a salary and you should receive holiday pay and statutory sick pay.  It...