UK Contractor Pensions, Mortgages and Insurances

Financial Services – Pensions, Insurance, Mortgages and Investments

As a contractor generally your primary priorities are to;

  1. Secure your next assignment
  2. Ensure you receive the highest rate possible for this assignment
  3. Find the most tax efficient and compliant Umbrella Company solution

And as well they might be, you don’t work you don’t get paid and the more you bill the more you take home every month. Not like you’re a permanent employee that is paid every month, receives holiday pay and sick pay when they’re not working.

The benefits most contractors miss out on

Now whilst your daily billing rates are invariably higher than your permanent employee work mates, they usually receive other benefits aside from job security. Their employer will often have in place – pensions, medical and life insurances not to mention the fact that they don’t have to concern themselves with Accident and Sickness, Income Protection Insurances. They’re also in working in an employment relationship which enables them easier access to Mortgages.

In our experience we find that most contractors are overly concerned with the above 3 issues whilst neglecting to look at the benefits (both short and long term) of; obtaining the relevant insurances, of setting up a Pension or simply haven’t been able to find a Mortgage Broker that is able to secure them a mortgage due to their contractor status.

Make sure you are protected

We’d like to make this easier for you. We’ve teamed up with a leading Wealth Management Company that specialises in providing the following services to contractors;

Up to £1000 per month cover starting from less than £1 per day. Gender / smoker / income / occupation neutral.

Generally unavailable to contractors with little/no taxable income this alternative has unlimited capacity and provides specific levels of cover in excess of industry minimum standards (AB+) 

For Directors who still pay for their own life cover there is a better way, that's more tax efficient and can provide up to 30% more cover without increasing liability. 

Up to 100%, (ONE HUNDRED PERCENT) for professional practices, specifically targeted at Dental Surgeries 

Based on contractor gross daily payment (subject to status), Residential mortgages also available in over 50 countries. 

Including risk assessment, liability audit and succession planning providing guidance for double option and buy sell agreements. 

Making sure your estate passes to the right person, for the right reason, at the right time. IHT @40% is in the main a voluntary tax

Full personal pension planning solutions, structuring of existing pension schemes, transfer of existing pension schemes, QNUPS for HNW for IHT planning, QROPS for overseas contractors.

Contact us today for a free consultation

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Client comment

"Great advice and excellent service on contracting and immigration solutions in the UK. I would highly recommend Tim and the team to assist you with accurate, clear and concise contracting advice in the UK or any other country for that matter."

Prishen Pillay,Global DBA Operations Lead

Shell International Trading & Shipping