7. Pension and health insurance – contractors have to pay this themselves. Even though you will be paid a premium for your contracting and these are partly tax-deductible you will still need to budget to pay them. So before you make the move to contract, calculate what these are worth for you as part […]
4. Payment issues – this is a serious concern for contractors. Being involved in a payment chain means that there could be delays in your payment. An Agency or Umbrella can delay a payment to you if the client delays paying them (some clients have a long lead time contractually before they pay). It’s important […]
1. Administration – if you are using a PAYE Umbrella solution this isn’t going to be such an issue. Providing information to your Umbrella service on your private pension as well as a few other big ticket items is all there is. Your main admin will centre around providing your time-sheet to your umbrella service […]
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