our Umbrella service offers a thorough employment service
Many individuals are looking for assistance in operating their business and our Umbrella service offers a thorough employment service.
an Umbrella solution
The key benefit of this comes in being able to claim tax relief on the business expenses you accrue on a weekly basis.
These expenses are calculated as per the standard PAYE regulations and there are benefits for the agency, and the individual, by taking this approach.
The key issue that appeals to people through this system is having the chance to take home more money each year through an Umbrella solution.
When compared to a traditional PAYE system, depending on the expenses that have been submitted and the number of hours worked, switching to an Umbrella system can lead to people taking home over £1,000 extra per year.
There is also the chance for people to claim for off settable expenses through the use of a HMRC P87, and this can provide an individual with an additional £500 over the course of the year.
If your role or position sees you claiming for mileage, travel costs, subsistence costs, tools for your job, safety wear, mobile phone use and overnight accommodation, there is likely to be a benefit for you in setting an Umbrella system.
The overall benefit will depend on your personal circumstances and your hourly rate but if you want to find out more how you can benefit from this set-up and system, get in touch with Finance Guru and we will do what we can to provide you with the information you need.
If this sounds good to you, we’ll be delighted to hear from you, so please get in touch.