Working on temporary contracts gives you flexibility and options in terms of how you offer your services.

Your own limited company (link to this info on advice and info page) may be something that you consider, but apart from the time and effort it will take to run your own company together with the requirements to comply with company related legislation and liasing with your own accountant, there are the financial costs involved and the risk that you could fall foul of IR35 and/or the Managed Service Company (MSC) tax legislation.

FPS Umbrella avoids these pitfalls. Freelance Professional Services administers the umbrella company, ensuring that it is filing returns, submitting taxes and complying with the various legislations regarding corporate governance. As an employee, your services will not be subject to IR35 scrutiny.

Finally, the MSC legislation is not applicable as you do not operate through your own limited company and your only payment is 100% salary that is subject to full PAYE and National Insurance contributions. 

Temping is rewarding but, because of the nomadic nature of working on contract, it can pose challenges in regularly changing clients and adapting to their working practices. Avoid the extra pressure of complying with tax and company legislation and work the Smart Way - through an FPS Umbrella company.

As an umbrella employee there is no requirement for you to complete a Self Assessment unless you are sent one by HM Revenue and Customs, or are required to complete one for earnings from other sources.

If you receive a Self Assessment then you can take advantage of preferential rates from FPS who will assist in its completion and submission. Please ask us for further information on this time-saving service.

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