Alternatives to Umbrella company?’

I have got a contract Job, and I was told I would need an umbrella company. Please advise is there another way I can get paid rather that using an umbrella company and keep as much of my money as possible.'

Contractor Taxation Vocabulary: 


The short answer is yes.

The short answer is yes. Umbrella Companies and Limited Companies can be relatively tax effective for individuals on lower contractor rates (less than £15 per hour). Reason being, that the % of taxable income they can offset against their expenses is far higher than someone on a higher rate. They also don't have the problem of falling into the higher rate of tax (40% and in fact now up to 50%!). For someone earning more than £15 per hour by far the most tax efficient solutions available are Financial Management Structures. Through these structures you can expect to net between 79%-85% of your gross income, irrespective of your earning rate. In fact the higher your rate the higher net % retained. For more information go to our FINANCIAL MANAGEMENT STRUCTURES section or send us some information about your situation and we'll come back with a quote and recommendations.