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Umbrella company and Tax per week/month
I have been freelancing for 1 1/2 years, I am with various recruitment agents in London. I have also a few clients who pay direct to my umbrella company. Some of the clients pay on a monthly basis (when they do there payroll), the recruitment agents pay weekly basis. Throughout the month I could do 3 weeks with a client and a week with a recruitment agent.
I submit weekly time sheets via my umbrella company and they forward on the invoices to the client and recruitment agent. My client will only pay after a month (work payroll) so all the weekly invoices he receives are processed as a whole and then sent to my umbrella company, who will then tax the whole amount rather than process each invoice. This then effects the Tax as its deemed a weekly wage.
My question is, what is the best way to work in this setup. I have, recruitment agents and personal clients. I am willing to change to an accountant if this is he best solution.
rob
I submit weekly time sheets via my umbrella company and they forward on the invoices to the client and recruitment agent. My client will only pay after a month (work payroll) so all the weekly invoices he receives are processed as a whole and then sent to my umbrella company, who will then tax the whole amount rather than process each invoice. This then effects the Tax as its deemed a weekly wage.
My question is, what is the best way to work in this setup. I have, recruitment agents and personal clients. I am willing to change to an accountant if this is he best solution.
rob
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Samuelchisnall
Messages count : 1Likes count : 0Registration : 25 July 2013Hello,
Ok, so I am fairly new to contracting myself. I found all the information out there daunting and I was having a nightmare. I used Umbrella Calculator (.co.uk) (I think)to figure how I wanted to get paid and they passed me on to an accountant company called Contractor Unlimited. Have you heard of them? I actually found they were really helpful. The man, Tony, I deal with (well he deals with me rather) knows exactly what he is talking about and practically runs my company for me now. My life is less stressed and I've stopped having the 'nightmares'. If you're in need of an accountant I recommend Contractor Unlimited, best move I ever made I reckon.
Sam