Once you have made that decision to head down the freelancing path, it is all about working out whether you wish to use your own Limited Company or to use an umbrella company, such as CRUMB. We believe that there are a number of factors which you should consider in coming to any decision. The 4 critical factors which would sway your decision to use an umbrella company are as follows:
- Length of your contract: Very short term contracts of under 3 months
- Rate of Pay: If your rate of pay is anything under £15 / hour (or daily equivalent)
- A contract deemed to fall under the off-payroll rules (IR35) as determined by your client
- Personal Preference: You may just decide to avoid the need to set up your own limited company and allow CRUMB. to take care of all your payroll needs
- Disqualification: It is very rare but you may have been disqualified from running your own limited company for any number of reasons
Note: If you find that none of the above are relevant and that you would therefore prefer to explore using your own limited company, please give our sister company, The Accounting Crew, a buzz. They can be reached on 0203 859 6188 or check out their website at The Accounting Crew. Remember that if you already have a limited company, between CRUMB. and The Accounting Crew, your limited company and your umbrella service requirements will be looked after for a monthly fee of £85 + VAT irrespective of which vehicle you use.
If the Umbrella route is the best for you, then that is where we come in. You can give us a call and we will get things set up and ready for you to start your work within a few hours of getting your go-ahead. We’ll need to get some information about you and the work that you will be doing, details of your agency and your bank details so that we can successfully make payments to you. That is all that is needed to get you on site.