Hertford, United Kingdom (PressExposure) November 06, 2009 -- Since the IR35 was introduced by the British government, many contractors have needed tax advice from experts. However, not all advice is helpful and some of it may be unreliable, may not lead to long-term profits and may even result in high risks.
Hence, independent contractors have been in need of an umbrella company that enables them to have solid payment solutions.
Crystal Umbrella is among the umbrella companies that founded The Association of Employment Management Companies, which allowed the umbrella industry to establish a complete set of standards.
Crystal Umbrellaâs services are a perfect option for those who wish to benefit from contracting without the need to operate a limited company. It is easy and can be quickly activated.
Compared to other umbrella companies, Crystal Umbrella offers unparalleled payment solutions to all contractors. They also have a variety of benefits, such as a complete insurance package to guarantee your security.
This umbrella company is now a more reliable choice for both contractors and agencies. It is responsible for providing payment to the contractor through the use of the PAYE, or Pay as You Earn, system. It pays contractors with the total contract amount and uses HRMC-authorized dispensation to compensate business expenses. The IR35 becomes unnecessary as all income is paid as PAYE.
Its PAYE-based payment solution is cost efficient and simple to use. All contractors - in any industry or IR35 status - can avail themselves of this payment solution.
With Umbrella payroll services, contractors are assured of their payment solution. These services offer a PAYE method that allows contractors to gain greater net returns than the usual PAYE, as well as considerable expense allowance and increased benefits.
The PAYE solution can also be transferred from one contract to another and is applicable for any contract duration.
This income-tax paying method also ensures that contractors pay tax over the entire year every time they are paid. Their employer does the job of submitting the tax to HM Revenue and Customs or HMRC.
Crystal Umbrella also offers the best fixed-rate administration fees in the market, besides processing all income through PAYE.
The companyâs existence for the last several years has established their expertise in the industry as it continues to adjust to the inconsistencies in market trends. It also has a staff of professionals who work effectively to guarantee that your contract duration is more than satisfactory.
The founders of Crystal Umbrella and its senior management team manage and lead the company. They are specialists in tax and payroll solutions, and in customer support. They are also experienced in credit control, legal issues, and sales.
About the Author: Brooke Archer works as a senior independent financial advisor in a highly renowned global wealth management firm. She specializes in corporate tax planning, portfolio management and asset allocation planning. She has also worked as an independent contractor in the past and has used the services of an umbrella company, including umbrella payroll services and other payroll solutions.