What is an Umbrella Company?  (Please design with a drop Down Box)
An umbrella company is an organisation that employs temporary workers and enables them to carry out a number of short-term contracts for agencies and end-clients.

Can I join TriplePay UK Umbrella and Payroll Services?

• Umbrella employees can come from a broad range of sectors including:
• Construction
• Transport/logistics
• Engineering
• IT and telecoms
• Health and social care
• Education
• Legal

Why has my employment agency referred me here?

Many employment agencies like to use professional services companies like TriplePay UK because it makes it easier to manage temporary workers.

If you have been referred to us by an agency, then we will be acting as an intermediary between you and the agency (as well as any end-clients). Once you have carried out work for an agency and filed your hours, we will bill them on your behalf. We will deduct the tax and other costs, passing the remainder on to you.

Why should I use TriplePay UK Umbrella and Payroll Services?

Our expert advisers will provide a free personal illustration and help you choose the best solution for your circumstances.

For a flat weekly margin, we will take care of your payroll and other administration, leaving you with more time to concentrate on the work that really matters. Your margin is related to the agreement we have with your agency and the gross margin is processed as an expense in order for you to benefit from additional tax and NI savings on your wages.

• Fast and efficient registration process.
• 24/7 access to our easy to use online portal
• Friendly experienced staff to support you all the way.
• Keeping you compliant with the latest tax regulation updates and the HMRC.
• Collecting payments from agencies on your behalf.
• Processing your payslip and making sure you get paid on time.
• SMS notifications of payment.
• Helping you claim allowable business expenses.
• Public Liability and Employer’s Liability insurance cover.

Claiming Your Expenses
In certain circumstances, you can claim allowable business expenses without the hassle of setting up a limited company.
As a worker through our umbrella service you may be able to claim allowable expenses. This means that we reimburse your expenses from the funds we receive from your agency before tax and national insurance is calculated.
While you’re out contracting, you’ll pay for any expenses with your own money, but make sure to keep any receipts and invoices safe.
The easiest way to claim allowable expenses each week is by emailing us at triplepayuk@rfrprofessionals.com to submit your hours and expenses.

If you have any additional questions about how to claim your expenses please contact our customer services team on +44 207 754 5911 or 073 88 612 237. Email us at triplepayuk@rfrprofessionals.com

Alternatives to Umbrella Contracting

Umbrella companies are great for contractors who want to have a fully managed risk free payroll solution. But it’s not the best choice for everyone. If you choose to operate as a limited company, for example, then you might be able to take advantage of more tax arrangements to boost your take home pay. Find out more.

Call today and one of our experienced advisers can provide you with a personal comparative illustration to working either umbrella or operating your own limited company.

IR35 Compliant – What does this mean and how does it affect me?

As a contractor, your IR35 status is not dependant on your payment structure.

Whether you fall inside IR35 is solely dependant on the contract between your limited company (or umbrella company) and the end client. In addition your working arrangements also need to be considered. The factors you need to consider are based on case law.

In short, IR35 comes down to one crucial factor: are you a full employee or a genuine contractor?

The aim of the IR35 legislation is to decide if the work you’re doing should really be classed as full employment, rather than genuine project-based contracting work. If you’re a genuine contractor, you’ll be outside of the legislation and can take advantage of the tax efficiency associated with working through a limited company.

If your role is classed as employment, however, HMRC might say that you’re inside IR35 – meaning you’ll need to pay Income Tax and National Insurance on your earnings just like an employee would.

I’m with an umbrella company – do I need to worry about IR35?

As an employee of TriplePay UK, the good news is that you won’t be affected by IR35. The legislation only covers self-employed contractors, so there’s no need to worry.

If you’re a limited company director, our sister company RFR Professionals have an essential IR35 guide that can help.

IR35 for Public Sector Workers

If you work as a limited company within the public sector, you may be subject to IR35 legislation changes from the 6th April 2017. As an overview, the changes mostly affect who decides whether or not a contract falls inside or outside IR35. Typically, it would be the contractor who makes the call on whether or not the assignment is in or outside IR35. However, from April 2017, for contractors working within the public sector the decision will fall to the public sector body who must inform the body that pays the contractor. Those working in the private sector or under an umbrella company are not affected by these changes.

Need more help?

We understand that there may come a time where you’ll want to take the next step in your contracting career and set up a limited company. That’s why our sister company RFR Professionals, is on hand to answer any queries you may have about the legislation.

Are there any advantages of having a Limited Liability?

When you set up a limited company, you will become a company director. This gives you a number of options for how you receive payment. You can take a director’s wage or you can get paid through more tax-efficient dividend payments (or a combination of the two).

You will also have the opportunity to claim back business expenses that you can use to offset your tax bill.Setting up a limited company tends to be more tax efficient than working as an umbrella employee. However, it does mean you will have more paperwork and administration. As a director you will some responsibilities that must be taken seriously – particularly those that relate to Companies House and HMRC.

TriplePay UK sister company RFR Professionals Accountants specialise in helping contractors set up and efficiently run a limited company hassle free. We have a team of fully-qualified friendly accountants on hand to help you and answer any questions.

RFR Professionals has developed a customised small business accountancy services to ensure your Limited Liability Companies complies with financial statement preparation, annual returns and tax filings while you focus on your core business.