what?s the difference?

in Here is your first Forum Wed Aug 28, 2013 1:53 pm
by chainsaw • 299 Posts

Trading as a limited company while working in the UK usually involves an individual owning and managing their business <a href="http://en.netlog.com/ma827100427/blog/blogid=28985619">netlog</a>. They trade by selling their personal services to an end user, often through a recruitment agency. Benefits include business independence and portability, and potential tax advantages. The downside is that the contractor is responsible for their own administration, payment collection, banking and tax.<p></p>
In 2000, new tax legislation was introduced (IR35) which states that if you would have been an employee of your end user, other than for the existence of an intermediary company, then you will be treated as an employee for tax purposes regardless of how you organize your affairs <a href="http://www.smartblindsshop.com.au">Timber venetians</a>. Know more about work in the UK for Australians.<p></p>
MyOE Australian Account Manager Jill Henderson says it was following the introduction of the IR35 legislation that the popularity of umbrella companies grew.<p></p>
"An umbrella company acts as an employer to contractors working at a fixed rate, usually through a recruitment agency. All remuneration is paid to the contractors via a combination of salary, bonuses and tax free expenses. The umbrella company handles the administration of timesheets, collection of payments from clients/agencies, tax, UK visa and National Insurance calculations and payment to the contractors <a href="http://www.liamsbag.com/goods-73-%E3%80%...s+for+lady.html">fashion evening bags</a>." <p></p>
Limited Company vs Umbrella Company: what`s the difference?<p></p>
Ms Henderson says myOE recommends an umbrella company as the most efficient, safe and dependable way of working in the UK or jobs in UK for Australians <a href="http://www.worldcustomizedjerseys.com/ca...er-Jerseys.html">Country Soccer Jerseys</a>.<p></p>
"An employment management company allows you to enjoy the benefits of contracting without the headaches of IR35, limited company administration, insurance costs and accountancy fees. Its simplicity makes it an attractive and flexible option for short term contractors.<p></p>
"Employment on a secondment basis with a UK visa umbrella company is one of the most effective ways to minimise the tax due on your UK income from the time you arrive. This arrangement also gives you up to 24 months of tax relief on your relocation and living expenses," Ms Henderson said.<p></p>
MyOE was established in 1998 to help professionals relocate to the jobs in UK for Australians by assisting with all aspects of the move from planning the relocation to providing a hub that can offer several tailored employment solutions, through to arrival and beyond.<p></p>
MyOE offer the best UK youth visa and UK ancestry visa deals on the market. MyOE makes sure you land on your feet in your new country and save on tax in your new job. Our contractor management service guarantees more take home pay <a href="http://www.capitalbay.com/members/activi...ormat/smoothbox">capitalbay</a>.<p></p>&nbsp; Order by www.csctrucks.com/cement-tank-truck_c0_sp</body>;

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