0345 557 1287
Office Hours: 9am to 5.30pm
0345 557 1287
Office Hours: 9am to 5.30pm

The Advantages of using a PAYE Umbrella Company

If you have made the decision that working through a limited company is not the right option for you, working through a PAYE umbrella company may be an alternative worth considering.

The basic principle of an umbrella company is relatively simple. A contractor becomes an employee of the umbrella company, the umbrella company calculates and deducts the required PAYE and National Insurance contributions and then pays you your salary.

How this benefits you

There are a number of benefits associated with contracting through a PAYE Umbrella Company that make it a hassle free and desirable option, including;

  • Freedom from the administrative burden of working through a limited company. By contracting through an umbrella company, you won’t need to deal with accountants, HMRC or companies house.
  • Umbrella companies take care of invoicing and processing your payroll, so you can focus on your work rather than chasing payments.
  • Enjoy the flexibility of working on multiple assignments whilst maintaining continuity of employment through a large organisation.
  • As an employee of an Umbrella company you’re eligible to claim back business expenses that you may not otherwise have been able to claim provided you can prove you are outside of the Direction, Supervision and Control (SDC) of your clients.
  • Umbrella companies provide access to employee benefits such as sick pay, maternity/paternity leave, holiday or redundancy pay.

Working through an umbrella company is essentially the best of both worlds, allowing contractors the freedom and flexibility of self-employment with the benefits of being employed.

We at One Click Group provide a range of umbrella services for contractors and freelancers. We pride ourselves on our personal approach and we would be happy to chat though your options to make sure you are confident in your decision.

If you have any additional questions or would like to learn more, please contact us today.

Smart Pay with CIS Umbrella

In the Construction Industry Scheme (CIS), contractors are obliged to deduct money from subcontractors’ payments for HMRC. This is similar to PAYE, where deductions are like advance payments towards a subcontractor’s tax and national insurance. One Click Umbrella can help you focus on running your business with less red tape.

CIS Compliance with Less Bureaucracy

Under CIS, monthly returns for payments are required by HMRC. Like any tax system, there are penalties for late returns, ranging from a £100 to £3,000. It’s important to keep track of your CIS returns rather than getting an unwanted surprise later in the year.

When using CIS Umbrella, contractors can relax with help and advice from our personable staff. That leaves you with more time to focus on higher-earning activities.

All the Tools You Need to Do Business

Using an umbrella service takes the hassle out of admin work with clear upfront fees. You can access our online portal anytime, anywhere, to control and view your expenses. When dealing with a client, it helps to keep CIS returns and payments clear and simple. With a One Click Umbrella, you get a service that manages invoices and contracts between parties.

Key Benefits of Using CIS Umbrella

Whether you’re a contractor or sub-contractor, some of the benefits of using a CIS umbrella include:

  • Claim back business expenses
  • CIS registered contractors pay less NI contributions and reduced tax
  • Fast and easy registration with One Click Umbrella
  • Online portal for better understanding and clarity
  • Free optional text message service for payment updates
  • Public liability and personal accident insurance for a small fee
  • Advice on your tax remittance
  • 100% compliance with HMRC legislation and no hidden fees
  • CIS obligations made easy

Expert Accountancy and Payroll Solutions

One Click Group works with many of the UK’s largest and most respected recruitment agencies. If you’re a freelancer or contractor and need further clarification about the Construction Industry Scheme or wish to find out more about our accountancy and CIS Umbrella services, contact One Click Group today.

SME Accounting Services at a Fixed-Rate

If you require small business accounting services, why not try them at fixed rates? One Click Group are noted for our transparency and are ability to provide a host of umbrella employment solutions for freelancers and contractors. We have now been serving our clients for over five years and are able to provide the first-class personal and professional service that you are looking for.

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Why You Need Small Business Accountancy Services

Having a small business can be hard enough without having to worry about your accounts, which is why many SME’s choose to outsource to specialised accountancy services. There is no legal requirement for you to appoint an accountant, but for many it provides peace of mind having an accountant to guide you through to each step of your accounts.

For a small monthly fee, companies such as One Click Group will provide you with access to professional bookkeeping systems that will track your monthly and quarterly returns, whilst you receive professional advice on the financial direction of your business income.

Why use accountancy services?

As mentioned, using an accountancy service is not mandatory, but there are many reasons why most limited companies in the U.K use accountants to direct them on their finances, especially with IR35 legislation throwing a spanner in the works.

What small business accountancy covers

Those who have not used accountancy services before aren’t aware of what exactly the service involves, and it is a lot more than simply compiling your reports at the end of each year and submitting tax returns. To start with, there is the matter of registering your company with all the necessary departments such as VAT, PAYE and others you may not have even considered.

There is also the setting up and running of your company payroll system, as well as ensuring it complies with all the current regulations. Accountants help provide any dividend admin and tax planning advice you may need, as well as bookkeeping services, handling company related correspondence with HM Revenue & Customs and providing you with references.

Naturally when owning a business, you want to spend your time and energy focusing on ways to grow and profit, which means dealing with the admin side can add unnecessary time and stress to your life. An accountant on the other hand, is happy to handle every financial aspect of the business.

Time is money

They understand the nuances of handling tax and HMRC, so know exactly what to submit and when. Any advice you require regarding your expenses, tax or otherwise can be easily answered and then advised. Your accountant ultimately wants to ensure you are earning as much of your hard-earned money as possible and will continue to do so in the future.

Despite all of this, you may decide that you would prefer to handle this alone, but in doing so you will need to ensure that you are properly maintaining all your accounts and that they are adhering to all the current guidelines. All your account information must be submitted on time, be presented correctly and must have complete accuracy to ensure you are meeting all your business’ obligations.

There must also be a consideration of how much time you estimate you will have to spend preparing all your accounts, maintaining bookkeeping and dealing with any HMRC enquiries. In business, time is money, and it is an accountant’s job to save you on both.Your job primarily is to focus on your business without constantly worrying and undoubtedly utilising accountancy services will achieve this.

Are You Inside or Outside of IR35?

Many contractors don’t know whether their activities fall inside or outside of IR35.

IR35 status determines whether you are self-employed or not, and many companies have found themselves in hot water after enlisting the services of people that work on a full-time basis for them but treating them as if they were self-employed.

Why might someone be outside of IR35?

Failing a few status tests doesn’t automatically mean you will be treated by HMRC as if you are inside IR35. If you do not receive employee benefits, do not feature on a business’ list of employees and are permitted to choose your own hours, you are likely to fall outside of IR35.

This may also be the case if you buy your own equipment with your own money and if a business is able to terminate your services without giving you any prior notice.

Am I inside IR35?

If a business is obligated to provide you with work and you don’t have the right to provide a substitute when your services are unavailable, you may fall inside IR35.

You may also be deemed to part of IR35 if you only work for one client. It’s vital to get the wording right if you are signing a contract to provide services for a client. The contract should state that it is a business-to-business agreement to provide such services.

Why One Click Group?

At One Click Group, we can come to your assistance if you need advice on IR35.We have more than two decades of experience in the contractor services sector, and are wholly compliant with all relevant tax and employment legislation.

We offer a host of accountancy services for the contractors of today, and you can get in touch with us by calling 0345 557 1287 or by using the contact form.

6 Time-Saving Small Business Accounting Tips

Get your accounts in better shape than ever before whilst also spending less time staring at figures with these six time-saving small business accounting tips.

If there’s one thing that all small business owners would like more of, it’s time.  Use the following 6 tips to reduce the time you spend on business accounting and free up more time for growing your business.

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Inside and Outside IR35 – What You Need To Know

IR35 was introduced by HM Revenue and Customs (HMRC), established to combat tax avoidance in the provision of personal services. Following this, the definition of self-employment was outlined. This way, disguised employees couldn’t take advantage of the tax benefits of self-employment. However, those who falsely identify as self-employed also enjoy the security of being a permanent employee.

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