The rules relating to expenses for contractors operating through umbrella companies have seen many changes over recent years and consequently there is a lot of confusion. This guide describes the two types of expenses that can be claimed and the process of verification. It is based on guidance from Professional Passport and HMRC.
Searching for your next assignment? Contact Compass selected partner agencies.
The difference between an Assignment Rate and workers Gross Pay is one of the most common causes of confusion. Here we attempt to provide an explanation.
This leaflet has been produced by the Low Incomes Tax Reform Group (LITRG), part of an educational tax charity and PRISM, an umbrella company representative body. It provides clear and independent information to help you understand more about working through an umbrella company.
From 6th April 2021 the Conduct Regulations require that employment businesses provide workers on new assignments with a Key Information Document (KID).
With the IR35 off payroll rules in force from April 2021, engaging contractors has never been so complicated. Recruiters are looking to a model from the USA as a solution.