{"id":251,"date":"2018-11-29T15:00:01","date_gmt":"2018-11-29T15:00:01","guid":{"rendered":"https:\/\/umbrellasupermarket.co.uk\/umbrella-company-3\/?page_id=251"},"modified":"2019-03-18T15:21:46","modified_gmt":"2019-03-18T15:21:46","slug":"pillar-page","status":"publish","type":"page","link":"https:\/\/umbrellasupermarket.co.uk\/umbrella-company-3\/pillar-page\/","title":{"rendered":"Pillar Page"},"content":{"rendered":"<p>There are two main structures used by contractors to both get paid by their agency or client, and in turn pay their taxes:<\/p>\n<ul>\n<li>an umbrella company which invoices the clients, pays the contractors less tax and pays the their taxes direct to HMRC.<\/li>\n<li>a limited company (which the contractor owns and is a director of) which invoices the clients, and uses an accountant to calculate their payroll. The director pays their own salary and any taxes due to HMRC from the company account. At the end of the financial year, if the contractor receives additional dividends, these must be documented in a personal tax return, with any tax due sent from the contractor\u2019s personal account to HMRC. An accountant would also usually be engaged to do this calculation and submit the form.<\/li>\n<\/ul>\n<p>For anyone earning under \u00a3200 per day, the difference between the disposable income available at the end of each month (after factoring in government benefits) is often the same as via a Ltd Company.<\/p>\n<p>However for those earning above that threshold, a limited company quickly becomes the more financially rewarding option. It\u2019s therefore important for contractors to weigh up the extra time spent and responsibility that comes with operating a limited company over using an umbrella.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are two main structures used by contractors to both get paid by their agency or client, and in turn pay their taxes:<\/p>\n<ul>\n<li>an umbrella company which invoices the clients, pays the contractors less tax and pays the their taxes direct to HMRC.<\/li>\n<li>a limited company (which the contractor owns and is a director of) which invoices the clients,<\/li>\n<\/ul>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-info.php","meta":{"footnotes":""},"class_list":["post-251","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pillar Page - Umbrella Supermarket<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/umbrellasupermarket.co.uk\/umbrella-company-3\/pillar-page\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pillar Page - 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