Moving overseas to work as a contractor can be a daunting prospect for most people, with relocating, finding places to live and work among the most stressful part of the whole process. This is why having an umbrella company to act as your 'employer' is a beneficial solution for contractors.
Contractor Umbrella Company in UK exists for the purpose of providing contractors with a comprehensive tax and payroll solution. With such a task, however, comes the responsibility of finding and picking the one that best suits your needs as a contractor, especially considering you'll be working offshore.
Unsure where to start? Begin by searching online and comparing websites. Reviews and lists of suppliers exist heavily across the internet, so you can easily do your research with little effort. It's important to remember to choose the company that best serves your purpose. Recommendations from people you know are also particularly helpful in determining whether a company fits what you are looking for.
Next, understanding how long the company has been around is also helpful in determining whether or not the company is capable of carrying out adequate services for you. For example, myOE has been providing payroll solutions to Australian contractors working in the UK for 15 years, with their own personal experience contracting in Australia and overseas. This factor of experience and knowledge should play a significant role in choosing best umbrella company.
Another important factor to consider is the costs involved, and what's included with those costs. Typically, umbrella companies charge on a weekly basis and deduct directly from your earnings before they distribute them to you. Obviously the less the fees are the better, but always ensure quality comes with those fees. You don't want to get caught out receiving nothing for what you pay for, even if the fees are low.
When you think about why you choose to operate as a contractor under an umbrella company, not only is it because of convenience, but to ensure all tax, expenses and contracts are compliant. This is particularly important due to the fact that the work is being carried out overseas. Compliance assurance is the number one reason contractors working overseas enjoy the use of umbrella companies. The company is able to give advice for things from what wages to expect to what expenses you can claim. The company can manage your tax effectively, because they already know your income and history. In addition to compliance assurance is the capacity for service from the umbrella company. They need to be capable of providing a dedicated account manager for their contractors who understands your income history. The ability to address things quickly and effectively comes second to only compliance in levels of importance.
MyOE understands the need for flexible solutions that optimise the contractor advantage when it comes to living and working in the UK. With the necessary infrastructure, technology, experience, and expertise, myOE operates seamlessly between Australia and the UK to not only take away the hassles of administration, taxes, compliance, and liabilities, but to also help contractors make the most of their overseas experience with free support and guidance services to professionals.
If you'd like to find out more about the services such as tier 5 visa, tier 5 youth mobility visa, salary packaging solutions, contractor management system and payroll processing services myOE can offer contractors who want to live and work in the UK, call 1300 654 484 to speak to one of our dedicated team members.
UK Visa deals- myOE offer the best visa deals on the market. myOE makes sure you land on your feet in your new country and save on tax in your new job. Our contractor management service guarantees more take home pay.