Experienced Recruitment Consultants neededWe are currently recruiting for experienced recruitment consultants to work within an established team with an extremely active client base. A minimum of 3 years experience within the telecomms and IT marketplace.
Netsource Launches New Website, February 2010
Netsource attends International Gaming Expo 2010 at Earls Court
4. What is an umbrella company?
An umbrella company is a company that acts as an employer to independent contractors who work under a temporary contract, usually through an agency such as ourselves. It offers contractors most of the benefits of being a limited company without the responsibility and cost of the financial and day to day management. The umbrella company issues invoices on your behalf to Netsource and, when payment of the invoice is made by us, they will pay you, having made deductions for your tax and national insurance (PAYE). There are many umbrella companies in the UK but before choosing one, you should bear a few things in mind.
Working in
conjunction with Revenue and Customs, providers of umbrella services can allow
their employees to offset legitimate business expenses against tax. You should
ensure you are classed as an employee of the umbrella company and be given a
contract of employment. They should invoice Netsource for all of your work,
chase and collect payment and deduct tax and National Insurance at source, plus
offset legitimate business expenses against tax. An umbrella company should never charge
you a percentage of your earnings as their fee, they should charge a fixed
amount and you should know exactly how much this is per month or per week. Processing of expenses should be
included in this fee, they should not charge any extra for this. One more important thing to find out is
whether or not the company possesses appropriate qualifications in accountancy
to be able to manage your tax affairs responsibly.
