Umbrella vs limited company

Umbrēlla vs limited comрапу A life as a contractor THE DIFFERENCES Umbrella company Limited company Ats as your enployer Run your own business Little admin involvement Admin responsibility is yours The umbrella company deducts and pays tax on your behalf You're responsible for paying taxes You submit timesheets to the umbrella You're responsible for managing your company bank account and invoicing your agency for work done company to get paid Higher take-home pay when comparêd to PAYE Higher earning potential than when comparêd to umbrēlla contrâcting* *will vary from contractor to contractor, depending on your scenario Is an umbrella company for you? • You don't want the hassle of administration 7s a limited company ? for you? You're happy to take on the admin responsibility • You're likely to have a rate of more than £15/hour • You're likely to have a rate of usually less than £15/hour Accept contracts of less than 6 months Accept contracts of more than 6 months 1st Contact BROUGHT TO YOU BY 1st Contact Accounting www.1stcontact-accounting.com a world of opportunity