Antec Management Ltd
A Hassle-Free Umbrella Company
We’ll look after all your Income Tax and National Insurance obligations, plus provide you with all the employment rights and benefits given to permanent workers.
Simply send us your timesheet and expense claims and we’ll do the rest. It’s that easy! This leaves you free to get on with what you do best, safe in the knowledge that everything is taken care of.
Umbrella Company
The simplest way to describe an umbrella company is that you become an employee of the umbrella company. This means that the agency will pay the umbrella company, who then after deducting all of the necessary PAYE and NI contributions pay the contractor their salary. Take a look below to see the key features of an umbrella company:- One of the differences, as mentioned above is that the umbrella company will make the deductions and also calculate any tax relief on allowable expenses.
- Very little admin to do and the contractor simply submits their timesheets and logs expenses online.
- The contractor will enjoy a continuous employment record which is handy for mortgage and loan applications.
- Access to statutory benefits and inclusive insurances, this means the contractor can do what they do best knowing they are covered.
Agency PAYE
Pay As You Earn (PAYE) is when the agency is the contractor's employer and is responsible for paying them. The agency must deduct employed levels of tax and NI contributions are calculated and paid before the contractor receives their salary. Take a look below for some of the key features of PAYE:- The agency is the contractor's employer and therefore is responsible for paying the contractor.
- Employed levels of tax and NI is calculated and paid.
- The contractor submits their timesheets to the agency.
- The contractor has access to certain statutory benefits, like statutory sick pay.
- Tax relief on any expenses is not available.
PAYE Umbrella Positives & Negatives
Positives
- Very easy to use, you simply enter your timesheet and expense details and wait to be paid.
- All tax and NI is deducted before you receive your money, so you will have no further taxes to pay.
- Ideal for short term contracts.
- Ideal for contracts less than £25k per year.
- Good if you are unsure if contracting is for you and you’re really just in between permanent jobs.
- Someone else will be doing all the paperwork.
Negatives
- You will receive a salary that is subject to full PAYE Tax and NI, it’s just like being a permanent member of staff again.
- You are reliant on the umbrella company to collect your money from the client or agent and then to pay it on to you.
- One continuous employment for all your assignments
- Paid holiday
- Statutory payments, including sick pay and maternity/paternity pay
- Easy to use online portal
- Guaranteed pay for the work you carry out
- Predictable payments – always know when you’ll receive your pay
- A dedicated contractor support team to help with any queries
- A workplace pension scheme you can choose to pay into
Get in Touch
Email: payroll@antecmanagement.com
Telephone: 03300 550 037
Registered Office Address: 71-75 Shelton Street, Covent Garden, London, United Kingdom, WC2H 9JQ
