subject: I'm a Freelance Contractor and I need Help! [print this page] I'm a Freelance Contractor and I need Help!
Don't Worry Help is at Hand
Own Limited Company or Umbrella Company, your decision, but which option is the best for you?
Temporary worker, interim manager and freelance contractor umbrella companies have been serving contract workers for more than a decade. Umbrella companies are specifically tailored to fit seamlessly into the working lives of those who are not in full time employment.
The alternative is to setup and manage your own limited company.
Running a one-man limited company involves a lot of administration work to maintain, and directors are faced with endless detailed paperwork & red-tape, which all has to be completed after a hard day's work.
Do you want to come home at night then spend a couple of hours filling out forms and battling with red-tape?
I'll be a Director!
Running your own limited company may sound good in theory, and being a director' might impress your friends, but behind the title is an endless onslaught of legalities, regulations & administration which come with strict time deadlines.
It might suit you. Do you know about spreadsheets, invoicing and contracts for starters?
If you're a contractor, set up and manage your own limited company if you can tick these:
Have had training
Are an accountant
Like red tape
Enjoy administration & paperwork
Understand complex forms
Have nothing better to do of an evening or weekend than complete forms
Believe biros will never replace fountain pens
What's so good about an Umbrella Company?
The paperwork a contractor has to complete when using the services of an umbrella company is a timesheet. Once completed the umbrella company does everything else for the contractor. It's a turn-key solution.
Umbrella or one-man limited company
These days, umbrella companies are the smart option. It is cheaper than running your own limited company, and also carries significantly less administrational overhead. You are also able to maximise our salary in the most compliant method, ensuring that you don't incur any surprise tax liabilities in the future.
You can register for free with an umbrella company online in less than five minutes. This is your best option to increase your net take home pay and reduce the hassles to a minimum.
