Starting out as a contractor and deciding whether to use the services of an umbrella company or set up and manage your own limited company can be bewildering.
Excellium Umbrella has compiled some useful articles for first time contractors, which guides them through the key issues and explains everything a contractor needs to know about umbrella companies.
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You may find administering your very own limited company a huge commitment and extremely hard work, in our opinion it depends on the level of support you receive from your accountancy practice. Incorporating and running your own limited company may well lead to a higher net income after the deduction of taxes.
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However, it includes responsibilities and deadlines that mean you may not always be free to get on with the work you are good at and enjoy...
Our umbrella service gives its members the ability to benefit from being legally tax-efficient, without having to worry about their IR35 status. Many of the tax efficiencies you will receive working with Excellium come from the genuine business expenses allowances that can be offset against tax which are directly negotiated with and agreed by HM Revenue and Customs (HMRC).
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The mechanism that allows this to be organised on your behalf occurs as we are not obliged to report every single detail of an expense claim (travel, subsistence, etc.) on a tax return and can "dispense" with much of the paperwork, hence "dispensations".
Put simply, our business is people. Excellium helps hundreds of clients around the world succeed together. Our clients look to us to anticipate and solve their most complex financial challenges, and we provide them with a 1st class service that is audited and approved by Professional Passport "Setting the standard".
Excellium offers a full range of accountancy services as well as individually tailored solutions for contractors and small businesses allowing you to get on with your work.
We take care of your billing, expenses and admin as tax-efficiently as possible.
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The Excellium product range is forever evolving into bespoke solutions as no one product can be right for everyone. Our services have been developed uniquely to provide our customers with the most relevant service for their needs...
We are a safe, compliant and Professional Passport accredited service. A completely portable payment solution that gives you the flexibility to change contract and recruitment agency as often as you like.
You will gain full employment rights, be covered by comprehensive business insurance and will receive a fantastic benefits package.
At Excellium, our vision is to be the best contractor payroll company possible in the eyes of our customers and employees.
Excellium's foundation is our integrity. We are open, honest and trustworthy in our dealings with customers, suppliers and co-workers.
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We support our customer's success by creating exceptional value through innovative product and service solutions.
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We work safely in a manner that protects and promotes the health and well-being of the individual and the environment.
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We relentlessly pursue excellence in everything we do, every day.
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We work in an inclusive environment that embraces change, new ideas, respect for the individual and equal opportunity to succeed.
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We are accountable - individually and in teams - for our behaviors, actions and results. We live our Values and measure our success by the success of our customers, shareholders, communities and people.
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