For freelancers, contractors, locum doctors, consultants and self-employed
Becoming a contractor or freelancer can be a daunting decision but it can also be very rewarding providing you have the finances sorted. There are a selection of ways of getting paid as a contractor and the One Click Group can help you decide which method is best for you.
We offer a range of services:
This is the simplest way of getting paid. You become an employee of One Click Umbrella and we invoice your agency on your behalf based on your timesheets. Once we have received payment from your agency, we calculate the tax and National Insurance due, offset any expenses that might be allowable and make the net payment into your account every week or month.
There’s very little paperwork involved – typically we can accept timesheets from your agency – and you get all of the benefits of being an employee of a large company with the freedom to select your own assignments. You will benefit from Statutory payments such as Statutory Sick Pay and Statutory Meternity pay and can even take advantage of the One Click Rewards scheme.
We charge a flat margin for this service of only £27.50 per week and this covers everything including the compulsory insurance that your agency require. If you are paid monthly, the margin is only £85 per month. These margins are taken from the gross amount we receive from your agency so you effective receive tax relief on them, reducing the cost to you.
Umbrella is typically most suitable for those earning between £9.50 and £18 per hour.
Career contractors may consider setting up their own limited company to take advantage of many of the benefits that this can bring. From lower tax rates on dividends, benefits of the Flat Rate VAT scheme to being able to offset business expenses, working via a limited company is often the most efficient way of operating.
A limited company is most suitable for contractors earning more than £18 per hour and who are on long term contracts (6 months plus).
There is some paperwork involved in operating as a limited company contractor as you will be a Company Director and will need to deal with HMRC on a regular basis. One Click Accountant will help you with this to keep the admin burden to a minimum.
We provide access to online book keeping software and will be with you every step of the way via your own dedicated accountant, all of the competitive fee of £80 per month (plus VAT) with no hidden extras.
Consolidated PSC as it is known, is a service that brings together some of the benefits of working via a limited company with the simple administration of using an umbrella company.
You will become an employee or director of a limited company which will allow you to take advantage of the Flat Rate VAT scheme and certain expense allowances, however One Click Umbrella will act as your agent and handle all invoicing and payments, ensuring that you are paid in the most efficient manner.
Following the changes to the treatment of tax relief on travel and subsistence expenses in April 2016, this kind of arrangement allows contractors who have lost out to recoup some of their income without requiring a full limited company.
We charge a competitive accountancy fee of £80 per month plus VAT, and £5 per timesheet for this service, bringing the cost in line with umbrella.
Are you still confused about the best solution for you?
If you want to get further info, some help or talk with one of our advisors, you can: