Further Updates to National Insurance Contributions – July 2022

national insurance ucl

Facebook Twitter Linkedin Youtube What exactly is National Insurance (NIC)? National insurance is a compulsory tax paid by employees and employers. This was introduced back in 1911 and expanded by the Labour government in 1948. The tax is applied to all those over 16 years of age (when you receive your National Insurance number) until […]

How the National Insurance Contribution Increase may affect you post April 6th

Facebook Twitter Linkedin Youtube So how much will I be paying in NIC? We’ve all seen the line item National Insurance Contribution on our pay slips, it’s a deduction that is factored in automatically if you work on PAYE basis. And, whether it’s from coffee machine small-talk or national new outlets, we’ve all been made […]

Increases to National Minimum Wage in the New Tax Year

Facebook Twitter Linkedin Youtube It’s no secret that the entire population of the UK is subject to some contribution increases when the new tax year hits us on April 6th 2022. We wanted to get comprehensive information to you ahead of time so that you know what to expect as an umbrella employee. National Minimum Wage […]

Umbrella 101 – How is my Salary Calculated?

You’ve been asked to use an umbrella company, but one aspect that can be confusing is how an umbrella company calculates the salary payment you get at the end of each week or month. When you’re an employee of a company, the employer offers you an annual or hourly rate and calculates and deducts your […]

Umbrella Contracts Holiday Pay Policy

Updated 5/4/2022. We’re often asked how holiday pay works when working via an umbrella company. Umbrella employees are as entitled to holiday pay as any other employee in the UK, it is their right to receive it – and the payment methodology should be clearly stated at the time of application. There are a couple […]

Penalties for IR35 discrepancies dropped in year 1

No penalties for incorrect IR35 determinations The UK Government has announced that will waive penalties relating to incorrect IR35 determinations for 12 months from April 6th 2021. The move comes amid widespread confusion relating to the legislation from both fee-payers and affected contractors. The immediate prose of IR35 reform remains true; as of April 6th […]

IR35: 5% expense allowance being withdrawn from PSC contractors

IR35 reform for the private sector is less than a month away and, as we draw closer, more and more scrutiny is being placed upon the finer details involved. One aspect that seems to have passed below the radar is the loss of a 5% allowance that used to exist for limited companies operating within […]

The Key Information Document – A Reminder of Your Responsibilities

Key Information Document Explained Amid the turmoil of the pandemic, on the 6th April 2020, the UK government introduced the Key Information Document (KID) as a part of their Good Work Plan, in an attempt to improve pay transparency for agency workers. This document is required in order to comply with Regulation 13A of the […]

Working Time Regulations… Know the Facts

Being a contractor can mean many things; perhaps you’re working as a freelancer, operating through your own company, you’re self-employed or you’re working via an umbrella company. The way you operate may alter your rights in relation to Working Time Regulations, but we want to focus on our customer base within the following article. As […]

Can I get another job while on furlough?

On the 20th March 2020, many businesses were forced to close their doors due to the COVID-19 pandemic.  To support businesses and employees the UK Government introduced the Coronavirus Job Retention Scheme (furlough scheme).  The purpose was/is to keep as many employees on their employer’s payroll as possible (albeit in a dormant state). The CJRS […]