Contract Engagement

From umbrella company and limited company services, find a compliant method of engagement that is right for you and your circumstances.

Umbrella Companies

An umbrella PAYE solution allows you to stop worrying about managing your finances or keeping an eye on modern tax legislation changes. We provide you with all the support you need to give you peace of mind and make your life significantly easier.

This solution is the least complex way for contractors to be paid, as unlike managing contracting work yourself, we directly employ contractors carrying out short-term contract assignments and make the associated Pay As You Earn (PAYE) and National Insurance contributions on your behalf, guaranteeing you receive no unexpected tax bills.Whether you’re operating on a role deemed inside IR35 or you simply don’t want the hassle of having to independent manage your own tax affairs through working as self-employed or via your own Limited Company then this is the solution for you.

Limited Companies

A limited company is the most effective form of self-employment, in an Outside IR35 scenario, and offers you and your business a sense of credibility. Operating via a limited company provides a greater degree of tax efficiency and allows contractors to maximise their take-home pay.

One of the main benefits of operating this way is the financial protection provided as you won’t personally be liable for any losses your company makes and you are only responsible for the money you have invested. Forming a limited company is a simple process and is something our trusted partners and suppliers can support you with.

IR35

The IR35 rules apply only to a “relevant engagement”, or a contract in which the individual contractor is providing their services via a limited company to a client and, without that intermediary company, their income would have been treated like that received by a standard employee.The IR35 legislation intends that all of the money paid to the intermediary for their relevant engagement (apart from a number of specified deductions) should be subject to class 1 National Insurance contributions and Schedule E income tax, excluding many business-related expenses and dividend payments.

As a result of legislative changes introduced by HMRC from April 2017, for contractors working wholly within the public sector, the client or agency will determine your IR35 status. This essentially means that the decision is taken out of contractors’ hands.

Discover IR35

CIS

CIS solution is designed for self-employed sole traders operating under the CIS scheme. To ensure necessary compliance requirements are met with regards to self-employment legislation the umbrella company, such as IConsult, will conduct a thorough Supervision, Direction and Control (SDC) assessment for you based on your assignment so Murray have confidence that all income is subject to the correct tax regime. We can help contractors to register for the CIS scheme with HMRC, process gross payments and ensure that the correct deductions are being made at source based on your individual UTR status.

If you meet the requirements of the roles set out under the CIS scheme by HMRC and are eligible to work down this route on your assignment with the end-hirer then this is the solution for you enabling you to increase your NET income retention.

Statement of Work

A statement of work is a document and binding agreement that describes the terms and conditions for the execution of a projects scope of work. Here is an overview of the steps to consider and follow within an SoW:

  • Create an introduction and project brief for the work
  • Define the purpose of the project
  • Define the project scope
  • Create a structure to identify tasks, milestones and deliverables
  • Define project requirements and acceptance criteria
  • Define payment terms and conditions
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