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PayStream for umbrella company and limited company services
Whether you are new to contracting or are an experienced contractor, you are sure to be aware of the amount of time and effort involved in keeping your books up to date.
PayStream offers a range of tailored payroll and accounting services that can help both new and veteran contractors stay on top of their paperwork and ensure they comply with all the necessary legal obligations, including adherence to HM Revenue & Customs regulations, MSC and abiding by IR35.
Whether you are a contractor working through an umbrella company service, or would prefer to operate on a limited company basis, we have a service that can help you.
Umbrella company services from PayStream
If you are a contractor working through an employment agency, using an umbrella company company can help to maximise your take home pay.
An umbrella service takes care of all aspects of your payroll administration whilst providing the benefits of working on a contract basis.
PayStream runs the My Max umbrella service, which employs agency contractors working on a contract basis.
Signing up for this service will mean PayStream will invoice the agency on your behalf, collect the money, deduct the necessary PAYE and National Insurance and then pay you on a PAYE basis.
The umbrella company will also ensure that allowable tax-deductible expenses are offset against your income.
By working in this way, IR35 and Managed Service Company (MSC) legislation will not affect you.
My Max is easy to join, and once you sign up you will be given a dedicated account manager to handle your affairs.
Limited company services from PayStream
Many contractors choose to work on a limited company basis, as it offers greater control over their future and provides them with an opportunity to maximise their net earnings.
Agencies generally prefer to deal with contractors who have limited companies, as it reduces their payroll costs, so you may find working on this basis helps you to secure work more easily.
However, there is a downside. There is a lot of paperwork involved in setting up and running a limited company. You will be expected to be aware of and comply with all the necessary legal regulations, including adherence to MSC and abiding by IR35.
PayStream's ‘My PSC’ accountancy services can take a lot of the hassle out of running your business.
We can provide a full accountancy service for your limited company, helping you to manage its affairs in the most tax-efficient way.
Our experts can assist you at every step of the way to help you reduce the amount of paperwork you need to do, without restricting your control of the business.
Why choose PayStream?
PayStream employs a team of experienced accountants and account managers who understand the needs of contractors.
Our umbrella company and limited company services both have scores of satisfied clients, with over 90% saying they would refer our services to a friend, thanks to our professionalism and personal touch.
To find out more about My Max and My PSC or to receive a free, no-obligation quote, visit the PayStream website or call us on 0800 197 6516.
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