Corruda

Umbrella Company Northern Ireland

Umbrella Companies NI

An Umbrella Company Northern Ireland is a company that self-employed contractors can join instead of starting their own limited company. After you join an umbrella company you become one of their employees. They will act as a middle person between workers and recruitment agencies or their clients.

At Corruda we help companies, employers and business owners alike to manage administrative paperwork and payroll. We pay workers through PAYE and will deduct costs, including taxes, National Insurance and pension payments.

Joining an umbrella company like Corruda will have many benefits for contractors as we will take charge of your payroll while you focus on the management of your business. Try our liability calculator, we offer endless support, so request your call back today to see how we can help you.

The Contractor Benefits Of Joining An Umbrella Company Northern Ireland

Stay Within the IR35 Legislation

HMRC’s new IR35 legislation came into effect in April 2021. This is used to prevent contractors and businesses who are avoiding paying the correct tax by working as ‘disguised employees’ or on a self-employed basis to hide their true employment status.

By joining an umbrella company you don’t have to worry about being in or outside of the IR35 legislation. Contractors who join umbrella companies will have their PAYE tax and National Insurance deducted from their salaries, as if they were an employee at a limited company.

Less Paperwork – Tax Sorted – Take Home Pay

Administration and endless paperwork can be daunting for small businesses and employees, especially when you are focusing on running a business and dealing with clients.

Umbrella companies and their team members want to make managing your firm as easy as possible. Their team members will help to take away the burden of dealing with HMRC, chasing clients or completing important paperwork on time while meeting the correct requirements.

Umbrella – Commitment Free

When you join an umbrella company you don’t have to sign any contracts or worry about how you will get out of them. This differs from a limited company, where you may find yourself committing to carry on working for them and trying to make your business a success, even if you are struggling daily.

With umbrella companies you have the opportunity to try different projects and go back to regular employment at the end of your working contract.

Contracting Made Easy

Umbrella company’s help to take the stress of managing a business off your shoulders and avoid the daily administrative tasks. After you submit your timesheet either weekly or monthly, you can relax while our team takes care of the rest.

We will send you text messages and emails with a breakdown of your payslip and your wages will be paid directly into your bank account. This is the perfect option for contractors who struggle to meet paperwork deadlines while balancing their work and home life.

Join Corruda Today

IR35 Northern Ireland / IR35 NI

Is Your Business Ready For HMRC’s Newest Weapon?

The IR35 legislation was introduced to prevent contractors and businesses from evading tax payments or by working on a self-employed basis to ‘disguise’ their true employment status. IR35 Northern Ireland affects all contractors who do not qualify to meet the HMRC’s definition of being ‘self-employed’.

On 6 April 2021 the government introduced reforms to their weapon known as the IR35 legislation. These upcoming changes mean that:

Medium and large sized businesses are now responsible for calculating the contractor’s employment status

Contractors can dispute the decision if they do not agree with it and should be given reasons as to why this decision was made

Small businesses are excused from the changes and if a contractor does not get an employment status from their client then they must work out their own employment status

Inside And Outside IR35 NI

Contractors can either be inside or outside of the IR35 legislation. Being ‘inside IR35’ means that you are seen as your client’s employee for tax purposes and are subject to PAYE. This differs to ‘outside IR35’ which means that you are running as a genuine business and are outside of the IR35 rules.

Changes to the IR35 legislation have not ended contracting through a limited company. By joining an umbrella company contractors will have the freedom to work in projects that are outside of the IR35 rules and they will still benefit from their wages.

At Corruda we are here to help you through these legislation changes. Contractors who join us will have their PAYE tax and National Insurance deducted from their salaries which is similar to being employed by a limited company.

Umbrella Contractor And IR35

Using an umbrella company when inside of the IR35 is something that business contractors should consider. This means that you can use their umbrella company for business payroll when needed and still have the freedom to return to your limited company when you are ready to do so.

When you join an umbrella company you are taxed as an employee. Each payslip your pay will be deducted for income tax, National Insurance and potentially student loan repayments and pension contribution. At Corruda we are a construction umbrella company that will act as an intermediary between workers and their recruitment agencies or end-clients.

IR35 Tax In Northern Ireland

PAYE Umbrella Northern Ireland (NI)

Umbrella Contractor Employers

In April 2021 the government cracked down on the off-payroll working rules, also known as IR35, and the reform came into full effect. This legislation prevents ‘disguised employees’ from avoiding tax by supplying their services to clients through an intermediary, like a limited company. This has caused concern for employees offering services through limited companies and as a result, many have decided to use PAYE Umbrella Northern Ireland.

Medium and large sized businesses are now responsible for declaring the employment status of the individuals who provide services to them due to the IR35 updates. Managing PAYE can be time consuming for employers as they require specific requirements and need to be completed within specific deadlines. As a result of this many small businesses are outsourcing administrators who will take charge of their employee payroll. At Corruda we are here to take the stress off your shoulders and provide an alternative to both employers and their workers.

What Is PAYE?

PAYE stands for ‘Pay As You Earn’. Employers have to include PAYE as part of their employee payroll. It is used by HM Revenue and Customs (HMRC) to collect Income Tax and National Insurance from employees.

Other deductions that employers may need to make include student loan repayments and pension contributions. PAYE ensures that the yearly tax you pay is collected evenly each month through the tax year.

What Is PAYE Umbrella NI?

A PAYE umbrella company is a standard UK limited company that self-employed contractors can join and become their employee. The umbrella company will act as the middle man between the employee and their recruitment agency or clients.

Corruda PAYE provides a different option for contractors that will allow workers to have one employer but work on multiple assignments. Our team will take care of the PAYE and NI liabilities so you don’t have to worry about the added paperwork. Joining Corruda PAYE we have many benefits as they will provide you with employee cover:

A simple and contract free set-up procedure either through a phone call or online with one of our onboarding team members.

Weekly employee text messages and emails with your take home pay slip attached

Contact the Corruda team through phone, email or an online portal

Thursday faster payment where possible

Full employee status whilst you complete multiple assignments. This will include statutory rights such as SSP, SMP, Pension and holiday pay.

Join Corruda Today – Contractors – Tax – End-To-End Solution

Construction Umbrella Company

Is Your Business Ready For HMRC’s Newest Weapon? Umbrella At The Ready!

Following the introduction of new off-payroll working (IR35) rules in April, it is suggested by research that around one-third of limited company contractors are currently working on ‘outside IR35’ contracts. That is where we, as a construction umbrella company come in.

A further three-in-ten (29%) said that they were out of contract or were waiting to receive a status determination. In future, these contractors could be judged as inside or outside IR35.

The results suggest that while some contractors can continue working through a PSC, many are getting caught by IR35 or being encouraged to use an intermediary like an umbrella company.

Umbrella Company Definition

An umbrella company is a company that contractors who are self-employed can join instead of setting up and then working through their own limited company.

You become an employee when you join an umbrella company. We are a construction umbrella company and we act as an intermediary between you and recruitment agencies or end-clients. Building contractors, construction companies, we are here to help with an end-to-end solution.

Why Use A Construction Umbrella Company?

Setting up and running a  limited company that you work through can be challenging and won’t always be the best choice for contractors that do not have experience in that area.

You can do away with administrative duties completely by using us as your construction umbrella company. This means not keeping company records, not having to file VAT returns, and not having to keep up with all the other responsibilities you would have as the director of a limited company.

You or the contractor keep the timesheets, which they give to us, the umbrella company and from there the payroll is then processed from there.

Umbrella Companies For IR35 Status

A contractor is able to work on contracts both inside and outside of IR35, as the IR35 status applies to the contracts and not to the actual contractor.

Some contractors who only work inside IR35 might choose to use an umbrella company to handle and limit the administrative duties as they can be complex and time consuming.

‘Inside IR35’ contractors are required by law to pay income tax and NIC’s at the same level as company employees, regardless of the fact that they do not receive any of the benefits that come with employment, such as holidays and sick pay.

It is because of this that many ‘inside IR35’ contractors have made the switch to using an umbrella company in recent months. We are a construction umbrella company  and specialise in the industry, you are taken in as an employee, the taxes you pay are the same as the national average and as ‘inside IR35’,  but you get access to statutory employment benefits, as well as discounts and other bonuses.

CIS Umbrella

Corruda offer a compliant CIS Payroll solution that handles all of the time consuming paperwork for you. Allowing you the freedom and flexibility of working under your own name, and taking away the worry of complying with HMRC’s many rules and regulations.

Corruda Is A CIS Umbrella

We are registered with HMRC for CIS.

A monthly summary will be sent to you of gross and net payments made into your account.

As part of our additional services, Corruda offer assistance in preparing your year-end tax return for a small additional cost.

How Much Tax Must Be Paid Under CIS?

There are three rates of tax deductions that a contractor has to consider when they are paying a subcontractor. The employed contractor will be contacted by HMRC to shed light on the rate of tax to apply to your pay during the verification process.

Tax Deduction Rates:

20% for registered subcontractors

30% for unregistered subcontractors

0% if the subcontractor has a ‘gross payment’ status which means deductions do not have to be made

What Type of Work Is Covered by CIS?

CIS covers most construction work for permanent or temporary buildings as well as civil engineering work based in the UK and some surrounding territory.

CIS construction work includes:

Preparing of the worksite, e.g. laying foundations and providing access works

Demolition of buildings

Dismantling of infrastructure

Building work.

Alterations, repairs and decorating.

Installing systems for lighting, power, heating, water, and ventilation.

Cleaning of buildings after construction

Why Should I Consider An Umbrella?

Corruda’s Payroll is an expert CIS umbrella company with years of experience in the industry with solutions to help you so you can focus on your work. The sector is changing, take the necessary steps, protect the employee.

Our company solution is fast, easy and compliant – you always get paid on time – and there is support for you every step of the way.

Your payroll is handled, so you, your agency and end client can concentrate on the work at hand.

Our CIS payroll service is used because we are:

Experts in CIS umbrella payroll service

Low and competitive margin

Our company is with you every step of the way

An end to end payroll solution that takes care of all the paperwork so you have no tax worries

Our staff are trained in all services to keep you up to date with the latest legal developments

Construction Industry Scheme Services

Our service is seamless and we are with you every step of the way.  You receive your take home pay on time every single week and a simple self assessment tax form needs submitted at the end of the year, we can help you with all of that too.

Umbrella Company IR35

What Is IR35?

April 2021, the month that so many companies dreaded and for the first time in a year, it wasn’t because of Covid-19, it was the worry, the thought of being non compliant, April marked the new Intermediaries Legislation coming into effect. The act is known as the IR35 named after Inland Revenue, who are now of course known as HMRC.

The main aim of the legislation is to change the way in which business is dealt with. Medium and large sized businesses now have the legal obligation to determine the employment status of individuals that provide services to them. With great power comes great responsibility, once up to the individual person, the responsibility falls on the company.

Would you be compliant if there was a check today?

Umbrella Companies : Helping Your Company Comply With The Law

The legal obligation is taken very seriously, with life changing, potentially bankrupting fines for those found not complying with the law. Corruda’s liability calculator shows you the amount that you company could potentially be liable for, and if that figure strikes fear into you, then Corruda have a solution to help to ensure that you make a quick turn around into a compliant company.

The relationship between your company and any individual can be determined by HMRC to be not self employed, giving them the rights to backdate 6 years of PAYE and NICs.

The wording of contracts, and making sure that one is not a disguised employee is the overall aim of the legislation and tax benefits of limited companies are on the line should you get caught by HMRC.

How Will Your Status Be Determined?

HMRC reserves the right to conduct checks at any time of their choosing. The written contract is essential disregarded and HMRC instead look to consider the relationship of the contractor and the business – a ‘notional contract’

The following three factors are considered:

Control. The level of power that the business has over how, what, when and where the contractor completes the assignment is assessed. More control = likely to be inside IR35.

Substitution. Can  the work be completed by someone else or is it person-specific or contractor specific? The latter means that it is likely operating inside IR35.

Mutuality of obligation. Is there an obligation for the business to provide work? Is there an obligation for the contractor to accept the work? This would be seen to be operating inside IR35.

Work - Tax - Pay - Under The One Umbrella.

Umbrella Company IR35 : Contractors Aid

If you work through an umbrella company, you will be taxed as an employee. Paying employee income tax and employee National Insurance Contributions on the amount you are paid.

With minimal paperwork, more often than not IR35 caught workers prefer to use an umbrella company. Umbrella Company IR35 is the quick and easy way to ensure that you are compliant, with minimal paperwork, take home pay each week and help whenever you need it.

Impact On The Recruitment Industry : The Crackdown On The Contractor