Our sister company Carrington Accountancy offers completely unbiased advice to contractors who may need to set-up and run a limited company or who may need to work through an Umbrella Company.

We provide expert services tailored around the client’s individual business needs and their personal aspirations.

Limited Company

• The most efficient way of working.
• Claim a wider range of expenses
• Access to the Flat Rate VAT scheme.
• You keep complete control of your financial affairs meaning you do not have to risk your money with any third party administrator.
• Running your own business isn’t difficult; submit spreadsheets to your accountant – just like umbrella time-sheets and expenses.
• Greater opportunity for tax planning than PAYE Umbrella

• There is a certain amount of paperwork involved, usually about 10 – 15 minutes per month. Raise your own invoices, make payments & pay your own tax.
• Can be costly if you contract for a very short period of time, then go back to permanent employment.
• Not ideal for contracts less than £25k per year.

PAYE Umbrella

• Very easy to use, you simply enter your timesheet and expense details and wait to be paid.
• All tax and NI is deducted before you receive your money, so you will have no further taxes to pay.
• Ideal for short term contracts.
• Ideal for contracts less than £25k per year.
• Good if you are unsure if contracting is for you and you’re really just in between permanent jobs.
• Someone else will be doing all the paperwork.

• You will receive a salary that is subject to full PAYE Tax and NI, it’s just like being a permanent member of staff again.
• You are reliant on the umbrella company to collect your money from the client or agent and then to pay it on to you.