Nisi Services Employment solutions to temporary contractors
Nisi Services provide employment solutions to temporary contractors
What is an Umbrella Company?
An umbrella company acts as an employer to contractors who work under a temporary contract, usually through a specialist employment agency.
An umbrella company issues invoices to the recruitment agency (our client) and once the payment of the invoice is made, we will then pay the contractor through PAYE.
Our umbrella company service is designed to save you as much tax as legally possible. As well as increasing your take home pay, you will receive a hassle free service so you will have plenty of free time to spend your extra money.
Why Choose Nisi Services?
Our contractor umbrella company solution will enable you to enjoy the benefits of contracting without the administrative hassle. We will maximise your net income, save you time and alleviate you of any IR35 concerns.
Our team have been providing umbrella services to contractors since 2001. We'll take on the burden of legal and accounting issues, taxation, insurance, invoicing, VAT - in fact every aspect of administration, leaving you to concentrate on your contract!
We offer market leading customer service and a deep understanding of contractors' needs combined with a cost-effective and comprehensive service. We could save you hundreds, possibly thousands of pounds each year. The overwhelming majority of our new contractors come from referrals and we're proud of our continuing client satisfaction levels.
If you're concerned about IR35 and its demands; maybe you're moving into the contractor market for the first time and need the minimum amount of hassle or perhaps you're fed up with your current contractor umbrella company service. Whatever your situation, we are sure we have a solution for you.
Benefits
Operating under an umbrella company allows you to increase your disposable income and remove the administrative burden. Using an umbrella company can make you more tax efficient, and therefore increase your take-home pay.
Our Umbrella company will:
- Contract with the agency on your behalf
- Invoice the agency on your behalf
- Run your payroll and pay you net of all deductions
Our service will:
- Make your life easier by taking care of all your paperwork and handling all your tax issues
- Increase your net take home pay
- Provide you with prompt payment as soon as funds are received
- Ensure you adhere to tax and employment legislation including IR35
- Make deductions of tax/NI, ensuring you'll have no unexpected tax bills
- Enable you to claim legitimate expenses including travel, parking, accommodation and out of pocket expenses
Expenses
By claiming all appropriate allowances and exemptions you can minimise your tax bill; however, this is not a way of avoiding tax. The rule for claiming expenses is "that an employee or office holder may deduct expenses incurred wholly, exclusively and necessarily in performing their duties".
What expenses can contractors claim?
Travel
- Train & Bus Fares
- Other Public Transport
- Personal Vehicle Mileage
Contractors using personal vehicles when travelling for business will be able to calculate a mileage cost on which they can claim tax-relief at the following rates in the tax year:
- Cars - first 10,000 Business miles 40p, thereafter 25p per mile
- Motorcycles - 24p per mile
- Bicycles - 20p per mile
Day Subsistence
For meals, drinks and associated taxes and service charges when 'working away from home' on the same basis as travelling costs. Actual costs must be claimed.
For other claimable expenses please consult our hand book.
Frequently asked Questions
1. What are your fees?
Our fee is 5% per week worked with a maximum of £25 and a minimum of £15. There are no joining or termination fees, and there are no fees to handle your expenses.
2. When do I get paid?
We run a payroll every day of the week, excepting for UK Bank holidays. Your payment is processed on the day we receive the funds from your agency or end-client.
3. Can I claim expenses to offset my taxable income?
Yes, subject to the company's expense policy. Your claims are always checked by us to ensure that they are legitimate, reasonable and have actually been incurred.
4. Are my expenses reimbursed?
No. Your expenses are offset against your taxable income, reducing your tax and N.I liability.
5. May I claim the maximum expense limit each week that I work?
You may only claim expenses that have actually been incurred and they must be wholly and exclusively incurred in the performance of your contract. You must always submit the receipts for these expenses so that we can validate your claim.
6. How do I claim for holiday pay?
You don't. You holiday pay is calculated at 1/12th of your total gross weekly or monthly earnings. We do not withhold this holiday pay - you receive it with every salary payment and it is clearly shown as a separate item on your payslip.
7. Am I covered by insurance?
In addition to the statutory Employer's and Public Liability Insurance, we provide Professional Indemnity Cover of up to £2,000,000 which is included in your fee.
8. What income confirmation can you provide?
We can provide income confirmation and references in the event you are applying for a mortgage or a loan. There is no charge for this.
9. What should I do with my timesheets?
You will be instructed by your agency or client where to send your timesheets. Most often, your agency will require them in order to be approved, and they will then inform us of your hours. In the event you are asked to send them directly to us, you may either phone them in, fax them, email them or use our on-line timesheet submission system.
10. What should I do when my contract ends?
If you are going permanent or leaving the country, just inform us in writing and we will end your employment and send you your P45. If you are moving to another agency, just let us know in writing and we will liaise with that agency and you continue as normal.
11. Do I need to submit a personal tax return?
You will need to submit a personal tax return if instructed to do so by HMRC. We have a business partner who will be able to help with your tax return for a competitive fee. Call us for details.
Chargers
There are no set-up fees, no close down fees or minimum tie-ins. We are here as a solution for you to use as often as you require. If you do not work for a week, there is no charge.
Our standard charge is 5% with a maximum of £25 and a minimum of £15, don't forget this charge is also offset against your tax liability.