What is the best option for you to contract via Limited Company or PAYE?
Making the right decision on how to contract either through a Limited company or PAYE (umbrella) is likely to be a critical decision each contractor now has to make. This may affect you radically if you have a contract in the public sector where it is likely that PAYE employment may be your best choice. This is because many of the contracts available are being advertised as caught inside IR35 and not actually being fairly assessed prior to a sensible and logical decision on IR35 status being made. If your contract is inside IR35 you will have to pay the costs of your limited company and the tax and N.I.of a PAYE employee! From 6th April 2020 in the private sector your IR35 status will be determined by a status determination statement (SDS) completed by the end client if they are a medium to large sized business
Why not watch the video below to decide whether a PSC or umbrella PAYE supply service is right for you!
For the independent contractor we help check that you are operating in a compliant manner and completely legally. IT Contractors working through a PSC will need to be Compliant against IR35 and BITE’s Contract Administration and Compliancy service gives you the support and help you need. Here you will find information about BITE’s PAYE Supply (previously known as umbrella) employment services and how to contract legally in the UK. Those on certain visas for example may not be able to open their own limited company, or those caught by IR35 may find a PSC the wrong choice,while others wishing to renew or apply for a new visa may opt for a PAYE service. Many people do not want the responsibility of running a limited company as a Director and shareholder until they are sure they enjoy contracting.Why not ask us which option will suit you best and what benefits such as expenses you will or won’t be able to legally claim as a contractor or PAYE Consultant working in London / UK.
PAYE Supply (Umbrella service)
BITE’s PAYE Supply service for UK IT Contractors on temporary contracts. Hassle free set up, no start up or closing fees, also including Professional Indemnity Insurance and BITE contributory pension scheme.
For highly skilled consultants, PAYE Employment opportunities, where you are paid a salary and have a generous bonuses package with additional benefits.Paid between assignments and on while on generous holiday allowance ideal for consultants making a career decision to work as a full time permanent consultant in the UK market.
A guide to PSCs, make sure you stay within the law and the new MSC legislation of 2007. Seek professional advice only from a fully qualified accountancy firm. Sweeting and Smedley
Do you know your gross pay? Why not calculate it and check how much more you can save if contracting. BITE can help with your career progression.
BITE worked to source the most exciting concept in the contract market in the last decade. This allowed you to transition into contracting as a Limited company contractor and a full PSC. However this is closing as of December 2019 as under the new IR35 legislation BITE will only be assisting higher paid consultants with a SDS outside IR35.
In addition to contracting in the UK outside the scope of the AWR as a PAYE employee or as a Limited Company Contractor BITE together with it’s associates provide the opportunity to contract in Europe with a number of easy solutions that vary by country
All contractors need to understand the MSC legislation introduced in April 2007, if in doubt always seek professional advice from qualified accountants.
Having trouble getting to grips with the contracting world? Not sure what a limited company is? Read though the FAQ section.
Get answers to some frequently asked questions about finances, legislation and BITE services and IT Contracting and the IT Contract market in London and the UK.
Useful links, everything you need from accommodation, travel guides, job boards and other interesting websites.
No Job no Training costs guarantee disclaimer: Under the 10 step job search program, we can’t help you get a job unless you regularly visit our offices, attend coaching and mentoring sessions, utilising the support provided to you. We work face to face with real people and you must work with us to help you. If then you don’t gain a job in the agreed time having attended the whole 10 step career coaching programme and used our job search database correctly we won’t charge you a penny and will refund the cost of any training you have undertaken that we have advised you to invest in!
The Three Day Marketing Personal Brand Plan does not carry a no job no training costs guarantee.
However If you purchase one of our training modules separately, attend and are not satisfied with it we will refund your money.
BITE Compliance covers: IT Contracting London UK, IT Consulting London UK, IT Contract work London, IT contract Jobs London, Temporary IT work in London, Temporary IT Jobs in London, working with Freelance Interim Consultants for professional jobs and IR35 and Limited company or PSC Compliance services.
BITE also offers: Contractor marketing and advertising services, CV Marketing services, with how to write an IT Contract CV to produce a Killer contract CV with, IT CV templates and IT CV examples. Your Jobsearch in our London office provides access to the hidden contract job market, career coaching for contractors, and contractor career management services .
BITE is not a visa or employment agency.