Accounting services and umbrella company

A limited company is a legal entity in its own right, and when you set one up it is the company that contracts with the clients, not you.

A limited company owns property, generates income, and has legal and financial obligations. It must have a business bank account, and comply with tax legislation for companies, including paying corporation tax, PAYE, NI and VAT.

It’s owned by shareholders, managed by directors and staffed by employees. If you contract through your own limited company, you will be a director of your company and a shareholder in it. This means that you will be paid a salary and be paid dividends. This flexibility is what makes it potentially more tax efficient.

A limited company must be registered at Companies House, and must submit annual returns. As a company director, you have a complex array of obligations, but working in this way allows you to take home more money and look more professional. We simplify the complexity so that you can enjoy the advantages.

When you join My Umbrella you are put on the My Umbrella payroll. You submit your timesheet, and we do the rest, invoicing your agency and then paying you directly.

We do everything an employer would: pay PAYE and NIC on your behalf, provide you with statutory employment benefits, and cover you through our employer’s public liability and indemnity insurance.

Rather than worry about taxes and the other admin involved in being self-employed, you can concentrate on your work, as you would if you were in a permanent role. You don’t need a business bank account or to register as self-employed, and you don’t need to worry about IR35 as it won’t apply to you.