Welcome to our page for IT contractors. Chances are we were recommended to you by another Gabem member using either our umbrella company payroll or Solo our self employed payment option. If that isn't how you found us, thank you for giving us an opportunity to show you what we have to offer.
The number of payment options available to IT contractors can be confusing: umbrella companies, offshore companies, self employed options and even your own limited company. We offer an umbrella company option for those of you seeking a PAYE payroll, and a self employed option for those of you that are working for yourself.
We don't run an offshore payroll or offshore payment option because of the unacceptable risks to you and us. In November 2008 HMRC announced that it will be clamping down on off-shore providers and whilst they won't be able to go after the offshore company (as the company is outside their jurisdiction), they will recover the loss from the people that use them. Essentially if you work in the UK you should be paying UK tax and NI.
For many IT contractors, running their own limited company is a popular choice but it carries with it a number of complications:
Additional administration
Retaining an accountant
Potentially falling within IR35
IR35 was originally intended as a measure to discourage contractors (more specifically contractors in the IT sector) from running their own limited company. This was accomplished by reducing their ability to pay themselves dividends.
Our Solo self employed payment option is a compliant and legitimate alternative to having to run a limited company, making it perfect for IT contracting.
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Minimal administration
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No need for an accountant
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Falls outside the IR35 rules which only apply to limited companies
The umbrella company option is for people who fall outside HMRC's self employed criteria with the additional benefits of:
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Ability to claim tax relief on legitimate, work related expense
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Income tax and NI taken care of through a PAYE system
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Guaranteed compliance as this is a straight PAYE system
There is more detail and general information around the site, so feel free to look around and get a feel for how we operate. If you need any more info get in touch, we'll be happy to answer any questions you may have.
